Mortgage Market Update 6-15-2009
June 15, 2009 by Bob Schenkenberger · Leave a Comment
Mortgage bond prices were very volatile last week pushing rates slightly higher by approximately 1/4 of a discount point.
The primary culprits are fears that other countries would shift dollars away from US holdings. Retail sales rose 0.5%, and reinforced the belief that the economy has started to turn. Oil prices continue to rise, and hit over $72 per barrel.
This week the Consumer Price Index (CPI) will be released this week, and is widely accepted as a major indicator of inflation. If the data comes back being inflationary, it will likely push interest rates higher. If the data indicates no inflationary concerns, it will most likely lead to improvements in the mortgage rates.
If you are in the position to float or lock a loan, be very careful right now. The advice of experienced professionals is a must!
Bob has been an active REALTOR for Over 20 years. During this time, he has closed over 500 transactions, and has been the broker of record for 1000's more. Bob can be reached via email (bob@gethomedenver.com) or phone (303.770.1180.)
Facebook Comments