Mortgage Market and Rate Watch For Week of November 10th, 2008

What To Watch This Week?

It’s going to be a mighty quiet week as far as economic news is concerned.

Now remember, many types of news can impact mortgage rates.  China’s announcement of $586 Billion stimulus plan is an example.  You can bet that will have a large impact on mortgage rates (and the stock market) on Monday.  Follow me on Twitter for live updates on what’s happening in the market.

How Much are Consumers Spending?

One of the (only) big reports coming out this week is the Retail Sales report on Friday.  Obviously the retail figures give us an idea of how much of the American consumer’s money is being put back into the economy.  With rising job losses and a tigher pocket book, this could come in as a big dissapointment.

By general rule, the uglier the report, the better mortgage rates do.

What to Watch This Week?

Since there’s always a lot going on, I like to pick out the two most likely ‘market moving’ reports each week.  If I had to pick a couple of reports to watch, they would likely be:

1. Retail Sales – Friday –  Like I mentioned above, the uglier the report, the better mortgage rates will do.
2. Major Economic News – All Week – Each week presents it’s own surprise pieces of news.  I am sure this week will be no disappointment.  Just remember, with a quiet week on Wall Street, it might not take much to move things around.

You Can Stay Updated!

I’ll be following things as they happen with live mortgage 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:

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.

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 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.

Original Photo Kudos.

Tagged as: consumer spending, Des Moines, Economic News, factors, Inflation, Iowa, Mortgage Rates, rate quote, Trend