Last week saw continued improvement in the US Economy with more positive news coming out related to housing, employment and consumer confidence. Positive data, in addition to what is hoped to be a final solution for the Greek debt debacle, places pressure on mortgage rates to go up. Should we see negative news come out regarding the Greek debt situation or the US Economy, we will see more downward pressure on mortgage rates.
Although we haven’t seen much of an upward move yet, we’re going to be seeing less and less downside potential as more positive news about the US Economy or Euro debt situation comes out. Looking at the big picture, mortgage rates appear poised to move up, the question is simply when this might happen.
Economic Calendar for Week of February 27, 2012
- Monday – Pending Home Sales Index, Dallas FED Mfg Survey
- Tuesday – Durable Goods Orders, S&P Case-Schiller HPI, Consumer Confidence
- Wednesday – GDP, Beige Book, Ben Bernanke Speaks
- Thursday – Jobless Claims, Personal Income & Outlays, Construction Spending
- Friday – n/a
Should I Lock In My Mortgage Rate Now? Which Program is Best For Me?
Mortgage rates continue to hover around all time historical lows. Many consider now a great time to lock as there is definitely more upside potential for mortgage rates then downside potential. That being said, knowing which program fits your long and short term needs the best is critical before you lock a mortgage rate.
We can help you put together the best mortgage strategy for your specific needs. Have questions or need help? Please call us or request a rate quote using our simple form above in less than 60 seconds.