Mortgage Rate Update for the week of November 26, 2012
Happy Cyber Monday! I hope you had a wonderful holiday weekend with family and friends.
Here are some of the scheduled economic indicators that may impact mortgage rates for this week:
Tuesday, Nov. 27: Durable Goods Orders; Auto Sales; Consumer Confidence
Wednesday, Nov. 28: New Home Sales; the Fed’s Beige Book
Thursday, Nov. 29: Initial Jobless Claims; Gross Domestic Product (GDP); GDP Chain Deflator; Pending Home Sales
Friday, Nov. 30: Personal Consumption Expenditures and Core PCE; Personal Income; Personal Spending; Chicago PMI
It’s hard to believe that next week is December. As usual, the first Friday of the month will bring us the Jobs Report.
Remember, mortgage rates are based on mortgage backed securities (bonds). Investors will seek the safety of bonds when the stock market is not providing desired returns. Currently, the DOW is down 72 as I write this post (9:56 am). Concerns about Greece and the “Fiscal Cliff” seem to be helping all ready low mortgage rates remain at very low levels.
If you are interested in a mortgage rate quote for your home in Bellevue, Bellingham, Bainbridge Island or anywhere in Washington State, I’m happy to help you: click here.