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Mid-course correction. (Mortgage Bankers Association economic predictions): An article from: Mortgage Banking
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mortgage rates predictions FAQ
No One has a Crystal Ball but the best I can tell you is that I have been in this business for over a decade and have seen alot. It is just my opinion but I believe, only because I follow the markets daily, that the rates will be closer to the 7% on 30
I am thinking we will see a drop. The R word is looming large. This might depress rates either naturally or artificially (fed).
I am not a huge points fan. What is your current rate? What is the loan amount. How long will you live there?
mortgage rates predictions news
Be prepared for the job axe to fall
Whichever way you slice it, the outlook for employment is getting bleaker. Last week the Centre for Economics and Business Research said that the long-standing official prediction for joblessness was way short of the mark and that by 2016, we could see three million-plus out of work. A gloomy prospect indeed but if you have a financial safety net in place, you and your family can prepare for the worst.
Source: The Independent
Money Market Indicators Signals Banking Sector Stress Retreats
Money-market indicators signaled the ability of banks to borrow and lend short term funds increased with the gap between the London interbank offered rate and the Federal funds rate narrowing in the forward market.
Three-month London interbank offered rate, or Libor, which represents the rate at which banks say it would cost to borrow from another, was 0.46685 percent, unchanged from the last two days, according to the British Bankers’ Association.
Source: BusinessWeek