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It’s important to recognize that advice is extremely valuable when looking for a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same.Â
I’m talking on this subject because too often when we’re asking the wrong questions when shopping around.
The first thing you’ve got to have your antenna up on is economic news if you want to have any idea what direction rates are moving.
Here’s this week’s economic calendar:
This week is packed with economic news. Â It will be interesting to see if consumer confidence numbers end up coming through stronger or weaker than the last report. Â It will also be extremely interesting to see how the personal consumption expenditures (PCE) comes out. Â If PCE comes in higher than expected, it will show inflation is coming into play. Â Other reports will also have large impacts throughout the week.
My personal opinion is that inflation will eventually rear it’s ugly head. Â When inflation comes up, mortgage rates will increase. Â Just give it time, all of these rate cuts are going to catch up with us some time! Â
If you want to stay updated as these reports come out, follow me on Twitter.   You also might get to know a mortgage guy a little bit better!
If you’re currently in the process of getting a mortgage and you’re working with a professional that isn’t telling you this news, find someone that can. Â I’d be happy to help if you have any questions!
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