Information is the key to success! I love the fact that I work with an amazing team that allows me the freedom to inform buyers and sellers about information that is crucial to purchasing a home. Please feel free to contact me today with any questions you may have regarding Real Estate. Bill Yarnall 727-209-7994 or check out my website at http://wyarnall.kwrealty.com/.
What Happened Last Week?
We saw interest rates drop last week as a result of a big sell off from stocks on Wall Street. Despite the limited Economic Data from the US there was some very poor data coming from overseas (mainly from China). As share prices dropped Bonds suddenly found an appeal. This new appetite came from Traders looking to cut losses and stem the bleeding and ultimately helped lower our rates.
What will happen this Week?
Expect rates to move in several directions this week. Domestically, there is a lot of information to be released in the coming days – the most important of which will be the Fed’s Policy Decision to be released on Wednesday. I’m thinking the Feds will announce further tapering…the big question is going to be just how much?
Bottom Line:
Expect possible rate reductions early this week. Further fallout from the Foreign Banking Powers could see lower mortgage rates here in the US up to Wednesday’s FED commentary which could be the game changer and cancel out any gains. Still rates are showing across the country at approx. 4.625 – 4.875%.
**Housing Recovery Snapshot
- South: Existing-home sales rose 3 percent in December and are 4.6 percent higher than December 2012. Median price: $173,200, up 8.9 percent from a year ago.
Information courtesy of:
Craig Inglis | Senior Loan Officer
VanDyk Mortgage Corporation | NMLS: 307619 State: LO 11567
