Divorce and Mortgage
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Divorce and Mortgages
|Week of: Monday, November 08, 2010
Present Market Conditions
Mortgages rates went up on Friday after a stronger than expected employment report, however for the week they ended lower than the previous week. On Wednesday the Fed announced it will purchase another $600 billion in treasury securities by the end of the second quarter of 2011 to boost the economy. Frank Nothaft, vice president and chief economist for Freddie Mac says “With little sign of inflation to push up long-term interest rates, fixed mortgage rates held relatively steady this week, while ARM rates hit new all-time record lows.
This week is a very light week for economic data coming out. Consumer sentiment will come out on Friday. Thursday is Veteran’s Day and mortgage markets will be closed, however the stock market will be open. The first treasury auctions since the Feds announcement about quantitative easy will be held on Monday, Tuesday and Wednesday.
Rates were down at the end of last week but they continue to bounce around, all while remaining at historic lows. It is a great time to take advantage of the market.