The outlook for interest rates in the coming week (January 15th – January 21st) is looking a little rocky. This past week, government and conventional loan rates rose by about 1/2 of a point as mortgage bond prices fell, and fear of inflation dominated trading activity. We expect that rates will probably climb a little bit until Wednesday, when several Economic Indicators are announced. If these indicators – including the Producer Price Index, Industrial Production and Capacity Utilization – come in weaker than expected than it’s likely we’ll see rates drop a little bit in the coming weeks.
Despite the fact that all of that mumbo jumbo sounds ominous and depressing, rates still remain historically low so if you’re considering a refinance or purchase it’s still a great time to capitalize! Email me and let’s talk about how we might be able to help!