Details Coming In
On Wednesday, the White House is expected to release the details of the Homeowner Affordability and Stability Plan. Again, markets are watching for the larger scale impact of the news. If analysts and traders think the plan is effective, watch for stock markets to improve and bond markets to weaken.
This would cause mortgage rates to rise.
More Jobs Reports
Friday, we’ll get to see February’s official jobs number. Job loss is expected to be over 600,000 for the month and unemployment may reach 8 percent (nationally). On many levels, if the jobs data meets the expectations, it would be okay with respect to mortgage rates.
Be Cautious
As always, it’s recommended that you float your mortgage rate cautiously. Wall Street is nervous for its turf and hyper-sensitive to Beltway influence. Markets can change in an instant and when they do, they usually change for the worse.
This week, have a game plan. It’ll be easier to take advantage of daily mortgage rate movement.
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:
- ADP Employment – Wednesday – Employment is always a big part of our economy. Wednesday’s report might give some insight on how Friday’s report might come in.
- Jobs Report – Friday – The big number everyone’s looking for this week. How much worse has our employment situation gotten?… That’s the question.
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.
