Mortgage news This Week

This Week; the stock market will continue to struggle after the very weak employment report last Friday and all recent data that is confirming a slowdown in growth. The bond and mortgage markets will benefit as long as the outlook for the economy is expected to slip back. Another weekly lower lose in the stock market will make it six weeks in a row, not seen since back in 2002.

This week there is much in the way of economic data; Treasury will auction a total of $66 billion of notes and bonds beginning Tuesday through Thursday.  The auctions will likely go well as most have in the last few months; however, there is always some concern that should keep interest rates from improving much because they are already amazingly low!   average 30 year conventional is well under the 5% mark with the 30 year FHA rates closer to the mid 4′s; and how about the FHA 15 year?  don’t fall out of your chair…  under 4!  should we look at taking your 30 year loan to a 15 and saving all those interest dollars?  one client of mine just saved over 100k off the life of his loan by doing this. 

Please feel free to contact me with any questions.

Sean Goble ~ Crown Mark Mortgage

317.513.4458 Mobile