Mortgage News Blog

      Like the song at the Disney’s attraction, it is definitely a “Small World After All”.

      The Euro zone is still dealing with Greece’s economic woes and along the way, Spain, Italy and Portugal also are experiencing economic stability. This news had money flowing into the bond market as the European Central Bank unveiled their own TARP stimulus package to the tune of $955 Billion to help these countries. Whether this will just be a band-aid or whether these countries will right their economic houses only time will tell. Let’s hope that it is the latter.

      Also in the news last week was the growing concern over China’s possible inflation though their government has been trying to stem that tide.

      All this news affects our economic future. Though it will be cheaper to fly to Europe, our corporations that are global will feel it in their bottom line as our products will be cheaper to purchase over in Europre. And China’s exports to us will be more expensive causing inflation in our country.

      This week there will be two important inflation reports released. On Tuesday and Wednesday, we will get Producer Price Index and Consumer Price Index. Both of these can impact the bonds and home loan rates.

      Tuesday will also bring Housing Starts and Building Permits Reports. And of course, on Thursday we have Initial Jobless Claims. Those numbers are still high and even more troubling is the additional 5.13 Million Americans claiming Emergency Unemployment Compensation which can last up to 99 weeks!!

      You can read about this in detail in MMG Weekly as well as an interesting article on “Remodeling Your Bathroom: A Project Worth Investing In”.

      As always, I’ll be following these and more so that I am up on the news that affects mortgage interest rates.

      You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.

      I also will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.

      Please remember, I welcome your comments to this and my other posts.

To an  inspiring week,

Betsy Moore

206-331-2749