Raleigh Mortgage Rates are low – The Weekly Kevin Martini. Folks, there was a ton of volatility during the middle of last week week however Raleigh Mortgage Rates ended nearly unchanged. So there was weak manufacturing data offset the higher than expected inflation readings. Similarly,increased social unrest in Greece early in the week was balanced by renewed hopes on Friday for a quick solution to Greece’s debt problems.
The current economic outlook, which includes expectations for tame inflation, has supported low Raleigh Mortgage Rates. The monthly inflation reports released this past week caused investors some concern, however the May Consumer Price Index (CPI) rose 0.2% from April, which was above the consensus forecast, and CPI was 3.6% higher than one year ago, that is huge, which was the highest annual rate since October 2008. Core CPI, which does not include food & energy, increased at a 1.5% annual rate, also above expectations, and up from 1.3% last month. Now, it is important to know that the inflation readings in China rose to the highest levels since July 2008. While it will take several months of unexpectedly high data to signal a trend…I & investors will be closely watching for signs of a rapid increase in inflation, which would be negative for Raleigh Mortgage Rates.
The housing sector data released this past week was stronger than expected! May Housing Starts rose 4% from April, which was well above the consensus forecast. Building Permits increased 9% to the highest level since December.
The big story this week will be Wednesday’s Fed meeting. No change in rates is expected, but investors will be seeking hints of any additional monetary stimulus to boost the economy. Existing Home Sales will come out on Tuesday, and New Home Sales will be released on Thursday. Durable Orders, an important indicator of economic growth, will come out on Friday. Then the final revisions to 1st quarter 2011 GDP will also be released on Friday.
Folks, Raleigh Home Loan Rates still remain near some of the best levels we’ve seen this year & it’s important to take advantage of these levels while they remain. If you have been thinking about purchasing or refinancing a home, call or email me to learn more about why now is a great time to benefit from today’s historically low rates.
Please forward this newsletter on to someone you know who may benefit.
No comments:
Post a Comment