This past week’s .25 point Fed rate cut along with the best jobs report in the past six months seem to bode well for the economy. Struggling amidst the worst housing slump in over 30 years, it does seem as thought the economy is stabilizing. However, we do expect future disclosure of continued corporate exposure to securitized mortgage debt.
This week’s economic reports should have minimal affect on mortgage interest rates. We will pay particular attention to Thursday’s jobless claims report and Friday’s University of Michigan Consumer Sentiment Index.
Thank you for the opportunity to serve you and your clients.