Domestic inflation reached its highest yearly increase in over 27 years. Global inflation is also a concern. These and other economic factors excluding crude oil’s drop in the past two weeks are fueling concerns of a global recession. Again the phrase “Be careful what you wish for, because you might get it” comes to mind. Domestically, core inflation, high oil prices, and a continued worsening housing market have kept recessionary thoughts at the forefront for both economists and consumers. Now that we are in a truly global economy, recessionary fears throughout other international markets is exacerbating the effects of a possible recession here in the US.
Housing and mortgage rates continue to get battered now with the crisis at Fannie Mae and Freddy Mac. Will the government bail them out or not? Also, Fed Chairman, Ben Bernanke, will speak about financial stability at an economic crisis gathering in Jackson Hole, WY this week.
In spite of a slight overall increase in mortgage interest rates, a strong buyer’s market still exist in most housing markets throughout the country.
During these uncertain economic times it is imperative that our clients and colleagues keep their personal and professional finances in peak operating condition. Call the David M. Damare’ Team for a complete mortgage analysis and basic financial advice to ensure your short and long term goals are being met so as to secure your financial lifestyle.
“Mortgage Lending is Our Business: Customer Service is Our Passion.”
Stay tuned and stay in touch with your mortgage professional. Thank you for the opportunity to serve you and your clients. David. 919.851.0999.
