This Week in the Markets

This Week; existing and new home sales are the main focus but unlikely to show any change in the trend of weak sales that has been the situation for two years. Japan’s problems with their nuclear reactors remain but the latest reports imply some progress on a couple of reactors while another reactor is weakening. In Libya the UN forces clobbered Libyan positions with heavy use of missiles but Qaddafi remains defiant. Treasuries and mortgage rates are likely to stay within a tight range as long as there is no change in the situations in Japan and in the Mideast.

 

The stock market, after the strong selling on panic moves is likely to rebound and recover most of the losses on the indexes. Gold and crude oil likely to increase in price after a volatile last week. Through the week as long as investors return to equity markets the bond and mortgage markets will see prices fall and yields increase. The week is very likely to be volatile from day to day with unfolding news out of Japan and the Mideast. We do not expect interest rates to increase a lot, but we also don’t see any major decline this week. Still suggest using the recent rate decline to get deals done and not get enthused about lower rates. Interest rates are not likely to fall much while the wider perspective is still bearish as the US economy improves and the ECB likely to raise rates.

What does all this mean?? 

Buckle Up!!!!! 

The month of March is coming in like a Lion….and it may leave that way too….

Courtesy: Sigma Research

Bill Nickerson has been providing mortgages since 1991 in New England.  If you ever have any questions about mortgages or the process of buying a home, feel free to call or email anytime.

Bill Nickerson

Vice President Mortgage Network

179 Great Road Suite 214, Acton MA 01720

978-399-1313

Bill’s Blog

Providing Mortgages Since 1991

NMLS # 4194

Commercial   Residential     Reverse FHA/VA

Please leave a reply. Thank you! Bill

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s