Wow. This week will be an interesting one. Often, mortgage rate movement comes down to one or two pieces of news a week. It looks as though this week’s news will be the Core Consumer Price Index (CPI) on Friday. CPI is one of the Fed’s favorite ways to monitor inflation. With all of the Fed’s cuts to the Fed Fund’s Rate, inflation should be setting in soon. If you’re not aware, it usually takes about 6 months to feel the effects of any economic tweaks (at least in the numbers).

Anything could happen between now and Friday. Retail sales also can be a big market mover. If you’re a gambler and trying to time the perfect time to lock your mortgage rate, it’s been a pretty crazy time to do it. Even the experts have trouble projecting what will happen. Either way, it’s important to know what’s coming up.

Here’s this week’s economic calendar:

How Do You Keep Posted on the News?
I’ll do my best to keep you posted throughout the week via Twitter. If you’re interested in finding out more about what effects mortgage rates and which direction they’re headed, feel free to follow me!

Work With Mortgage Professionals In The Advice Business
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.

Why Am I Posting A Calendar?
I provide this weekly news update because too often when we’re shopping around, we ask the wrong questions. 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.

So What Are Mortgage Rates Currently?
I get this question all too often. If I’m being fair.. and honest (which is my policy). I would be doing you a huge dis-service to just quote a rate. Truth be told, there are literally 27 different factors that go into a custom rate quote. There are also thousands of programs (constantly changing as well). It’s extremely important that you are educated on what is available and most importantly what is the best mortgage plan for you to implement.

It’s natural to have a list of questions. I’d love to help work through them with you and educate you on what you need to know about the mortgage process. Everything from how to pre-qualified to what to do after closing!

It’s what we do, and it would be my honor to add you to our list of raving fan clients. If you’re currently looking for a mortgage loan or know someone that might have questions about one, please have them contact me. I’d be happy to assist them. It’s what we love doing! I promise to take great care.

Tagged as: Bernanke, Economic News, Fed, Inflation, Mortgage, Rates, Trend