Smyrna Vinings Mortgage Rate Update February 15 2012

Time for a quick update on the Smyrna Vinings mortgage rates market.

The Week in Review:

There was no substantive economic news last week and mortgage interest rates continued a slow climb upward during the week. Home loan rates were up about .125% on the week.

What to Expect:

This week is packed with possible market-moving news. First, Greek leaders agreed to make certain budget cuts necessary to secure a financial bailout over the weekend. There are meetings set for mid-week in hopes to come to an agreement with the rest of Europe. Your guess is as good as mine about what happens. Mortgage interest rates would likely rise if a solid agreement was inked. We have a full economic calendar starting Tuesday. Inflation, Retail and manufacturing reports are spread throughout the week. Our economic reports have been modestly improving. Good economic news generally causes interest rates to rise.

Breg-ometer:

NNext 30 Days: Lock loans in. It would be unwise play the market if you are looking to close on a mortgage soon. Next 30+ Days: Neutral

Courtesy of:
Bob Bregitzer
Southeast Mortgage

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