Last week mortgage rates worsened slightly on light trading due to the shortened Holiday schedule. This week mortgage rates may be largely influenced by the events in Europe as they have been in the weeks and months of late.
We will likely see mortgage rates increase on good news affecting events in Europe and mortgage rates decrease if any issues or new concerns are raised regarding a resolution of the debt insolvency fears affecting Eurozone countries such as Greece and Italy.
Economic Calendar for Week of November 28, 2011
- Monday – New Home Sales
- Tuesday – S&P Case-Shiller, Consumer Confidence
- Wednesday – ADP Employment Report, Productivity and Costs
- Thursday – ISM Manufacturing Index, Jobless Claims, Construction Spending
- Friday – Employment Situation
Where Are Mortgage Rates Now?
Mortgage rates are currently near all time historic lows. Rates will not stay at their current levels forever and any number of market events could send mortgage rates on a fast march upwards. Please contact us for your FREE consultation to find out which mortgage program makes the most sense for your needs and whether or not locking in your rate now makes the most sense for your current financial needs.