Last week saw the beginning of an upward trend for mortgage rates that may very likely continue this week. The upward change is due in part to the positive US economic and housing data that has been coming out in the past few months and the Greek debt resolution that has come to fruition.
Despite the fact that the Greek resolution is not airtight, the markets are happy to see that a worst case scenario was avoided.
Mortgage Rates: The Week Ahead
Mortgage rates will likely continue to rise with unless we see new issues arise with Greek debt resolution, issues arise with other European Union members or we have bad news come out relating to the US economy.
There isn’t a lot of economic data coming out this week, but a rule of thumb is that any good news relating to the health of the US economy will exert upward pressure on mortgage rates and any bad news will help exert downward pressure on mortgage rates.
Economic Calendar for Week of March 19, 2012
- Monday – Housing Market Index
- Tuesday – Housing Starts
- Wednesday – Existing Home Sales
- Thursday – Jobless Claims
- Friday – New Home Sales
Where Are Mortgage Rates Now?
Mortgage rates can change many times throughout the day, so any rate we print here, would very likely be out of date by the time you read this. To get the latest mortgage rates simply use the fast quote form above or call us directly.
We can not only tell you where mortgage rates are, but can also answer any mortgage related questions you might have and can even put together a customized mortgage strategy built around your financial needs and goals.