This week's forecast for mortgage rates for those that are purchasing or refinancing homes. This report outlines critical events that will impact rates. Save thousands of dollars by knowing when to lock into your lowest rate.
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Mortgage Advisory Nov 15th
1. Mortgage Advisory The Week Ahead November 15, 2009 Jeff Chin Independent Mortgage, LLC Newton, MA jeff@indmortgage.com | jeffchinloans.com
2. Last Week Mortgage pricing continued to improve slightly again last week for the third week in a row. Treasury note auctions went well kept a lid on mortgage pricing. The “spread” between the conforming 30-year fixed and 10-year TSY remained strong. Consumer sentiment came in weaker than expected.
3. The Week Ahead: Six monthly economic reports can affect mortgage pricing this week. Forecast is “Fairly Active” for the week MONDAY: October's Retail Sales figures due early morning. A larger than expected increase, will push mortgage rates the next day. TUESDAY: October's Producer Price Index (PPI) that is one of the two key inflation readings on tap this week. The second report is October's Industrial Production data. WEDNESDAY: October's Consumer Price Index (CPI) will be released Wednesday morning. Wednesday's 2nd report is October' s Housing Starts. THURSDAY: The Conference Board will release its Leading Economic Indicators (LEI) late Thursday morning. Floating your Rate? Get my alerts via Twitter: JeffChinLoans
4. Two-Month Rate Forecast With rates near historic and all-time lows, likely not to decline much from here. Investor lack of appetite to take risk, weak economic growth, and the low near-term prospects for inflation will keep rates down. 4.875% 5.375%