Weekly Mortgage Newsletter Week of Sept. 18, 2011 Mortgage Market Commentary Reminiscent of the days when needles skipped backwards and replayed a line from a song over and over, mortgage rates set a new record low again last week. Economic news was similar to what we have been seeing for some time, highlighting the fragile, extremely-slow, but still growing economy. So, can mortgage rates go even lower in coming weeks? The answer is absolutely maybe. While few analysts believed we could continue to see such low mortgage rates, anything, including even lower mortgage rates is possible. This coming week could set the tone for rates for the next few weeks with the Fed meeting for two days to discuss monetary policy. Most analysts are expecting a significant announcement to come from the Fed. Some of the programs that experts are predicting the Fed may launch, such as changing the mix of investments the Fed holds, could push long and short-term rates in opposite directions. In any event, mortgage rates are likely to stay at low levels for the foreseeable future with occasional flares upward on good economic news. MORTGAGE RATES ECONOMIC SNAPSHOT Have a great week!
Marsha Stone Senior Mortgage Advisor NMLS# 90796 Platinum Home Mortgage Corp 910 679-4539 Ofc/ 910-232-3221 mobile 910 679-4541 Fax 3 Keel Street Suite 3 ,Wrightsville Beach, NC 28480 email@example.com