Mortgage Report: Week of Feb 20 - 24th
According to new Fed Chairman Ben Bernanke:
"The economy looks positive and stable". For the week ahead we have two news items that will dictate where the market will go:
1. Fed Meeting Minutes - gives detailed comments made by the Fed members as to their thoughts on the status of the economy at the last meeting.
2. Consumer Price Index - measures inflation at the consumer level.
If these two releases show signs of inflation it's possible that bonds will spiral downward again and rates may increase once again.
If the news indicates that inflation is contained, bonds may continue to climb higher causing home loan rates to improve slightly.
For a more detailed analysis on mortgage rates and where they might be headed please contact me.
Steven P. Maasbach
The Manhattan Mortgage Company