The recent couple of weeks in the Interest Rate marketplace can be summed up in one word, uncertainty. There has been offsetting information with respect to positive corporate earnings verses lower than expected housing starts and construction umbers and also slowing in the manufacturing sector. Many economists believe that the housing numbers as well as manufacturing could be weather influenced due to the worst winter we have seen in decades. Why is this so important? The Federal Reserve is looking at all aspects of economic growth including employment numbers and the above so as to determine their course of action with regard to tapering of the economic stimulus package. In the Federal Reserve minutes from last month’s meeting that were posted yesterday a number of the Governors have loosened on their position of keeping rates lower moving forward in an attempt to avoid falling in to deflation.
The bottom line is Mortgage rates this week are actually slightly better over the week ended 2/14. There is still a great opportunity to purchase your new home or refinance your existing home.
Please feel free to call me at 908-513-1202 or email me at Themonettigroup@gmail.com with any of your questions or to receive a no cost analysis of your financing needs.
