A Few Good Reports.
As you can see on the calendar below, there’s a lot going on in the economic news market.
If I had to pick two big reports to watch most closely this week, I’d say:
- Core Consumer Price Index (CPI). CPI is the Fed’s favorite index to measure inflation. Everyone’s been expecting inflation news to creep higher eventually, but thus far – it has not really moved to far outside of the Fed’s target (1-2%).
- Retail Sales numbers will be the biggest market movers. Retail Sales numbers will allow us to see if we’re seeing an economic slowdown. The uglier the number, the better mortgage rates will do (sick, huh?).
Fannie Mae and Freddie Mac
The big news last week was the concerns of liquidity from Fannie Mae and Freddie Mac. I’m sure the Treasury will be making a statement on the topic much sooner than later (like as I’m typing this they probably will). The markets (stock’s specifically) are a little worried about a Government Sponsored Enterprise (GSE) like Fannie or Freddie would have liquidity concerns.
I’m sticking to my guns on this one. I’m confident the government wouldn’t let anything happen to Fannie or Freddie. It would initiate a horrible outcome. They just can’t let it happen. But again, that’s just my two cents.
You Can Stay Updated!
I’ll be following things as they happen with live bond quotes and do what I can to keep everyone informed through Twitter. My clients always get the advice first, so I’ll try to filter though as quickly as I can.
Here’s this week’s economic calendar:
(Click to Hugisize)
As a Consumer, 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 You Say: 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 disservice 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 literally what I love doing! I promise to take great care.
