Monday Morning Coffee
Good Monday Morning!
Concerned over the current spike in mortgage interest rates, Federal Chairman Bernanke spoke last week in an effort to calm markets. He stated that while the unemployment rate is a key indication of future Fed monetary policy, it may underestimate and not reflect the actual state of the labor market which may be weaker. He also stated that 'higher accommodative monetary policy for the foreseeable future is what is needed in the U.S. economy'. Volatility eased and mortgage rates settled down after Bernanke's comments. it is evident that when Bernanke speaks it has an impact on rates, not matter what he says. At this time there has not been any action by the Fed. The fact is that action by the Fed to reduce bond purchases is on the horizon and this will have a long term effect of mortgage interest rates.
My suggestion is that if you are considerign a home purchase, don't wait. We know that rates are going to tick up. When and by how much is the mystery.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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920 Summit Blvd
Hilltop Haven with Impressive Views! Perfect for entertaining with valley & mountain views, 4 decks, 3 sliders, hot tub, wet bar with sink and eating bar, and great room with fireplace! Large viewing window in living room, kitchen with large eating ...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
