Mortgage Weekly Update - Last Week in Review - Rates slightly better or unchanged
Foster Weeks does a weekly mortgage update. His first statement couldn't be more on point!- Mick Orton
===================================
"AN ECONOMIST IS AN EXPERT WHO WILL KNOW TOMORROW WHY THE THINGS HE PREDICTED YESTERDAY DIDN'T HAPPEN TODAY." Laurence J Peter And sure enough, the economist's predictions were off the mark again last week, as several key economic reports came in weaker than anticipated. Weak economic reports tend to benefit Bond pricing and therefore home loan rates, so rates were slightly improved to unchanged overall over the course of the week...
"...So the debate on what the Fed should do next continues...some experts say that the Fed should consider a rate cut to support a rapidly cooling economy, while others say more hikes are needed in order to slay the inflation "dragon". The Feds primary concern is inflation - and protecting not only us, but our future generations, from runaway prices of goods and services - so until inflation moves closer to their desired target, a rate cut is not likely to be in the cards in the very near future..." Read on...
- Foster Weeks
posted by SFResidence.com @ 7:29 AM
0 Comments:
Post a Comment
<< Home