We now truly live in a global economy. What’s the saying? “Be careful what you wish for.” As if the
Hourly earnings rose slightly last week and unemployment rose .5%, much higher than expectations further weakening the economy. This week retail sales will report on Thursday and could be artificially high due to the taxpayer rebates checks. And on Friday consumer pricing and consumer confidence will report giving further direction to the markets and to mortgage backed securities.
We have adjusted our long term outlook upward for mortgage interest rates as a result of realized global inflation. And current economic conditions can only extend the downward pricing pressure and overcapacity in the housing market. We cannot overemphasize the opportunities available to homeowners and investors alike in the current real estate market.
”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.