Monday, December 15, 2008

Mortgage UPDate!

Last week saw long-term mortgage rates drift downward to milti-year lows as economic news continues to review a struggling economy. Overal retail sales dropped 1.8% which was near expectations. However most of the drop came from gas and auto sales. Certain segments including electronics and clothes actually saw an increase in sales.

Even with the hugh week of economic news due, we may see mortgage rates stay relatively flat. The most important item of the week is likely the release of the Fed's policy statement following its last meeting fo teh year. Expectations are for another interest rate cut, but the Fed's rate is having slightly less influence on mortgage rates in these challenging times. The recent promise of Treasury support for the secondary mortgage market has driven rates about as far down as is reasonable to expect without some significant event or governmnet program. Continued sour economic news and more evidence of waning inflationary presure should service to keep rates relatively low.


CoolDeep said...

Hi Roxy,

Thanks for visiting my blog time and again!

Although the surfacial dimension of our blog seems to differs, I believe, our objective remains the same, which is to serve people. Your blog too seems to be doing that in its own ways.


Roxy's Real Estate News said...

thanks for stopping by
I like to post both business and personal stuff.
seems to be working out ok.

aries28 said...

Hey Roxy, how are things goin'? Sounds like they may be getting better for you just like me. I guess I'll try to continue my endeavors while U/W again. I hope you have a great Christmas and New Year's

Shopping Kharma said...

Let's hope 2009 is a great year for all of us. Here's to real improvement to our economy and to those fat cats who caused all the troubles get what they deserve (nothing or jail). I'm staying optimistic and hopeful. I wish you all the best!

I also nominated your blog for a "Lemonade award".

Keep up the good blogging/work!)

Every Photo Tells A Story said...

Wishing you a Healthy and Happy New Year!

Unknown said...

Hi! I just wanted to stop by and say "hello". Hope you are having a good 2009. Miss your posts and hope you'll be writing again soon!

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