As the news continues to proclaim that we are breaking free of this painful recession, mortgage rates continue to stay in a very tight range, remaining at extremely low levels. There is little doubt that this is contributing to some positive news in the housing marketing. According to the S&P/Case-Shiller 20-city home price index, we’ve now gone two months with prices actually increasing. While there are many elements necessary to moving out of this recession, stabilization in the housing market will significantly contribute to overall economic recovery. This week is a jam-packed week of important economic news. The ISM Manufacturing Index is expected to tic over the 50-mark, indicating the manufacturing is finally expanding. Employment data is also due on Friday, with expectations of minimal change to our present situation. Even if we have good economic news, we could see rates not climbing too severely as lenders are beginning to see lessening risks of foreclosures as the housing market shows signs of recovery.
Compliments of
Eric Glick
Bank of America Home Loans
Home Loan Consultant
PHONE:
(912) 308-5931
FAX:
(866) 409-2128
eric.glick@bankofamerica.com
7150 Hodgson Memorial Drive
Suite A
Savannah, GA 31406