Good News for Retail Sales is Bad News for Mortgage Rates

With lit­tle eco­nomic news set for release, mort­gage rates are expected to take their cue from the 8 Fed­eral Reserve mem­bers sched­uled to speak in pub­lic, and from what­ever news may bub­ble up from the Eurozone.

The Fed­eral Reserve said it will com­mu­ni­cate its vision for the U.S. eco­nomic more openly and more often so Wall Street will be watch­ing the Fed mem­bers’ speeches this week, in search of clues about the Fed’s 2012 roadmap.

For exam­ple, there has been spec­u­la­tion that a new round of stim­u­lus would be intro­duced at the Fed’s next meet­ing later this month. If, after lis­ten­ing to this week’s speeches, investors sense it will happen, mortgage rates may be sus­cep­ti­ble to an increase.

We’ll also be watch­ing the Retail Sales report this week, due Thurs­day. Retail Sales are a reflec­tion on con­sumer spend­ing and con­sumer spend­ing accounts for roughly 70% of the U.S. econ­omy. If Retail Sales make gains, it may spark stock mar­ket gains at the expense of mort­gage bonds.

This, too, would result in higher mort­gage rates.

You can’t time the mort­gage mar­ket, but with mort­gage rates this low, it’s hard to go wrong. Talk with your loan offi­cer to get a live rate quote.

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.

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.  Some mortgage professionals really don’t know what mortgage rates are based on, period.  If you want to get the best deal, having a professional that can give you that type of advice is extremely important.

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 personally 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. I can help with everything from how to pre-qualified to what to do after closing (where I will continue working for you)!

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.