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The Week Ahead for Mortgage Rates: November 14, 2011

November 14, 2011 by · Leave a Comment 

Obamacare One Year Later Happy Anniversary Doctor | PhysiciansNews.comWhat was once the center piece of Barack Obama’s presidential campaign, the controversial health-care overhaul now known as Obama-care is now heading to the Supreme Court today to be challenged. Even though much of the health-care reform is not scheduled to be effective until 2014 there is still much debate on both sides of the challenge on the constitutionality of the law.

Now that the Supreme Court has agreed to rule on the health law, don’t expect a ruling anytime soon. Best case scenario is the the court will make a ruling in the height the 2012 presidential campaign. In the meantime, there are more pressing issues impacting the economy, real estate and mortgage rates.

This week is still all about the financial instability plaguing the European Union. Italy made a positive step last week with Berlusconi agreeing to step down and a new leader in place (Monti), a financial guy, to form a technocratic government (no politicians) to work out a budget that will save the country from defaulting. Italy is so big and carries more debt than the EU and ECB can handle. The bellwether 10 yr US Treasury note still is unable to break below 2.00% with any momentum (2.09% early Monday morning). Mortgage bond prices and mortgage rates are stuck in a very tight range with very little change in mortgage rates for the last couple of weeks.

There are no economic releases today but we have a lot of key data through the rest of the week. Inflation numbers, retail sales, reports on factory usage and output, housing starts and permits, and the key Philly Fed business index will all be on slate later in the week. Economic releases recently have been secondary to the constant and confusing news that seeps out daily from Europe.

This week leads into next week’s short trtading week with Thanksgiving holiday taking 2 days out of play and likely thin volume as investors wind down. The interest rate markets are stumbling at present levels, the longer the 10 yr fails to break 2.00% the more tedious the outlook becomes.

The economic calendar this week has the following key economic and financial reports.

Key Economic Reports for Week of November 14th by James Barath

This is The Week Ahead for Mortgage Rates: November 14, 2011.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Worsen

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Improve

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

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James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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