Hello Hello and Happy Monday!!
Hope you had a nice weekend! I know there were a lot of bazaars and events this weekend to choose from, plus it is getting to be that time of SHOP TILL YOU DROP out there. - I just have to share - I heard the most horrible story today on the radio. I'm sure you remember the craze of cabbage patch dolls. well, there was a little girl (back them) who was standing in the checkout line to buy her cabbage patch doll when a lady came up to her and asked if she could see it. The little girl handed it to her and the woman ran out the door with it! - How horrible and so true though that people tend to forget the true meaning of Christmas and get all caught up in the hype of it all. Please stay Safe and Sane this Holiday Season. (and you may want to carry your mace J)
"The happiness of life is made up of minute fractions -- the little, soon forgotten charities of a kiss or a smile, a kind look or heartfelt compliment."
- Samuel Taylor Coleridge
All right - I'll get to the Monday Market Update already -
Week of: Monday, December 06, 2010
Present Market Conditions
Rates continued to push upward for the third week in a row as most of the economic news for the week signaled optimism about the economy. That held until Friday when the unemployment data was weaker than anticipated and rates recovered slightly. The 30 year fixed rate ended the week at 4.46% with .8% discount up from 4.40% the week prior. According to Frank Nothaft, vice president and chief economist for Freddie Mac, "Mortgage rates followed bond yields higher this week as recently released economic data suggest the economy may be stronger this quarter than the previous."
This week is exceptionally light for economic data. Treasury Auctions start the week continuing with Jobless Claims on Thursday, International Trade, Import and Export Prices and finally Consumer Sentiment on Friday.
Rates have risen slightly but continue to be near historic low levels. Now is still an opportune to consider that refinance or possible purchase. Call your mortgage professional today to discuss your financial situation and structure a mortgage to meet your needs.
Have a FANTASTIC day!