This week there will be key economic data coming out that will shed light on the state of inflation, housing, manufacturing, retail sales and consumer sentiment. While mortgage rates have maintained their lows in the past few weeks due to consistently poor performance by leading economic indicators (this is good for mortgage rates), it is widely acknowledged that the question is not if, but when mortgage rates will be rising.

For home shoppers and those that have not yet refinanced their homes, the current mortgage rate environment is extremely favorable despite expectations that rates would have gone higher by now. For mortgage shoppers on the fence, now may be a great time to take advantage of low rates before they make an inevitable move upward in the coming days, weeks and months.

Economic Calendar For the Week of June 13, 2011

• Monday: Lacker & Fisher from the Fed speak
• Tuesday : Producer Price Index (PPI), Retail Sales, Business Inventories
• Wednesday : Consumer Price Index, Housing Market Index
• Thursday : Housing Starts, Initial Jobless Claims
• Friday : Consumer Sentiment, Leading Economic Indicators