Reports May Be Slow, But News Sure Isn’t!

This week is a quiet one when it comes to scheduled economic reports being delivered, but there’s still plenty of news that could shake the markets, including updates on the Stimulus Plan still making its way through Congress.

Mark-to-market talk has also been pretty heavy in the past week.  It should be also be noted that Stock prices, especially within the financial sector, have reacted very well anytime there is a mention of a possible relaxation of mark-to-market accounting.

Rough Economic News

In the way of economic reports, Thursday will bring the Retail Sales Report for January. Since many retailers are still struggling, as consumers continue to rein in spending, it wouldn’t be a surprise if this is a horrible report…which could be friendly for Bonds and home loan rates. It also wouldn’t be a surprise for Friday’s Consumer Sentiment Report to be horrible as well. And given the current job market, Thursday’s weekly Jobless Claims Report will be another one to watch.

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 – Thursday – Consumers drive this economy.  Retail sales give us a quick view of where things are at, or more importantly how accurate all of the nasty news we’re all hearing is.
2. Consumer Sentiment – Friday – How are consumers feeling about today’s economy?  Obviously expectations are pretty weak for this week’s report.

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 with live updates through Twitter.

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: Economic News, retail sales and mortgage rates