This Week's Mortgage Rates Forecast Mortgage Rates Currently Trending: HIGHER This week begins with a focus on the technicals as we see if the support levels hold up. The Relative Strength Indicator shows that we are poised for a bit of a rebound, but it may not be strong enough to have a significant effect on mortgage rates and it may not come until we see a bit more deterioration. Economic news this week that could move the markets includes FOMC minutes on Wednesday, and the Jackson Hole meeting as Central Bankers and economists from around the world attend. Traders will be focusing on any discussion on the timing of the Fed's tapering of bond purchases and who the next Fed Chair will be. .
BOTTOM LINE: Take advantage of any positive days to make up lost ground on rates, but don't hold off thinking that lower rates are on the horizon (they are not). Be sure to watch the live MBS (Mortgage Backed Securities) market with your Mortgage Loan Originator to stay a step ahead of lender reprices and to cash in on market gains that help mortgage rates.
Author:Kim Guest Phone: 864-918-0066 Dated: August 21st 2013 Views: 353 About Kim: ...
With approximately 50 years combined experience, Guest Group brings a wealth of varied experience in both Residential and Commercial Real Estate.
We are loyal, ethical and very dedicated to our clients. We give exceptional service and continue to have our clients for life. We compliment each other and understand the Real Estate Industry and the Local Market.
We have strong negotiating skills and transaction servicing that will ensure you of a successful real estate experience.