Cari Anderson's East Bay Mortgage Update for July 9th 2010
Economic News: The holiday shortened week did not bring much in the way of economic news. The Dow Jones Industrial Average made steady progress and moved back above the 10,000 mark. We will be greeted with a more active market calendar next week with the beginning of "earnings season" as well as readings on Retail Sales and the current inflation picture. The economic uncertainty in the Euro Zone as well as our weak labor markets should keep a lid on any near term rate increases by the Federal Reserve.
Mortgage Markets: The yield on the 10 Year Note is currently trading at 3.050%. In addition, the Mortgage Backed Securities are doing fine. If you are in the process of purchasing or refinancing rates remain at terrific levels.
Next Week's Reports: Tuesday: International Trade Wednesday: Retail Sales & FOMC Minutes Thursday: Jobless Claims, Producer Price Index & Industrial Production Friday: Consumer Price Index & Consumer Sentiment.
Stay tuned for the Next East Bay Mortgage Update...
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Cari - Nice job informing your customers about how great rates are right now. My phone has exploded with calls from my past clients wanting to refinance. They are smart to get in while it's great! Your readers should heed your advice : )
Cari, thanks for the heads up and it sounds like a positive report for next week :)