Mortgage rates managed again to set record low rates last week. While concerns over financial issues
in Europe once more drove money to the relative security of US Treasuries, there was little to get
excited about here in the US. As expected, the President presented a plan to Congress to create jobs.
Regardless of your political leanings, or of your opinion of the plan, financial markets, and many
experts, simply doubt that the contentious climate in Washington can be overcome to get any
significant jobs legislation accomplished. Many are sadly accepting that this recovery is stuck in a
very low gear, across the planet, and little can be done in the near term.
This week has some significant economic data due, some of which could put an interesting twist into
our economic drama. Most experts have been waving off inflation for quite some time, and there is
evidence that it may be well contained. However, if either the Producer or Consumer Price Index
show signs of unexpected inflationary pressures, we could see mortgage rates moving upward.
Mortgage Rates
Economic Snapshot
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
mstone@ephmc.com