Mortgage Rate Predictions for Week of : March 15, 2010
by habits on Mar.18, 2010, under investment
Interest Rates lost surprisingly little ground a week ago. There wasn’t much economic news on tap and rebalancing of portfolios pushed mortgage rates just a little higher for the first time in March.
Conventional and FHA mortgage rates went higher, but they’re still better than predicted. Check mid-week Chicago mortgage rates
Mortgage rates are sitting at or below 5% for most loan programs and could easily soar higher
Loan Rate Predictions for This Week: March 15, 2010
We’ll get an answer this week. The news keeps rolling all week:
* Monday : Industrial Production and Home Builder Index
* Tuesday : Housing Starts and Building Permits
* Wednesday: Consumer Confidence
* Thursday : Producer Price Index and Initial Jobless Claims
* Friday : Consumer Price Index and Continuing Jobless Claims
Oh, and if that won’t make it volatile enough, the Fed meets for a scheduled, 1-day event Tuesday.
The market is not planning on any changes in the Fed Funds Rate, but that doesn’t mean that mortgage rates won’t change. The post-meeting press release will be combed over and the markets will react. So far this week, the markets have been relatively quiet as the markets wait for the big news from the Fed.
No change would be great for mortgage rates if they could hold at today’s levels. If it gets volatile, rates have so much room to go higher and very little room to go lower.
As the data posts, we’ll check back on the interest rate forecasts
Guest article from Chicago Mortgage Brokers
