This week in the market:
during the week which resulted in a slight mortgage rate increase from last week’s all time lows as Investors grew more optimistic about US economic growth and less concerned about the European debt situation.
In addition, the FOMC Minutes from the September 21 Fed meeting revealed that Fed officials expect the economy to avoid recession. In recent weeks, investors have been gradually upgrading their economic outlook. Stronger growth is good for the economy, but it increases inflationary pressures, which is negative for mortgage rates.
All that being said, mortgage rates are unbelievably low right now. Please contact me for a free rate quote and don’t forget I will donate $250 to your charity of choice (Dad’s club and any of the local grade schools included) upon successful closing of a refinance or purchase money financing.
Until next week,
Capital Mortgage Services
NMLS # 274423
(323) 864-7784 Direct
(323) 386-4300 Fax