The latest from our trusted mortgage advisor, Kathy Harrison of Bell Mortgage: “Over the last week we gradually saw long term rates move into the 5% range again. While investors have been happy with all of the Stock market gains we have seen, remember this will typically have an adverse affect on the Bond market and thus the long term rate environment. Our Fed Chairman, Mr. Bernanke, is in Paris currently defending the QE2 initiative. Many foreign leaders were critical that the Fed helped cause some of their runaway inflation issues. This week the Treasury will auction a hefty 99B in Notes so expect some volatility in the market. For now sentiment in the “new” buying consumer appears to be positive. Inquiries are up, home prices while challenged, are offering buyers continued affordability. Overall consumer confidence appears to be moving slowing in the right direction.”
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