Weekly Economic Update

Brought to you by:  Lynda Mckenzie  - Vice President of Mortgage Lending

 

Mortgage rates began to move upward last week, only to be pulled back as it appeared that the economy is sputtering once again. The minutes from the last Federal Reserve meeting reveal little consensus on when to reduce economic support programs. We do have one factor that has been consistently positive, a rapidly improving housing market. Will this make a difference in the overall economy? Time will tell.

This week, if the stock market continues to climb, there will be some upward pressure on mortgage rates. But concerns over the economic shape of our trading partners, especially China, will likely keep rate increases in check. 

 

 

 

 

 

Lynda Mckenzie

Vice President of Mortgage Lending

lmckenzie@guaranteedrate.com

www.guaranteedrate.com/lyndamckenzie

O: 401-400-5380/C: 401-524-9796 MA: 508-455-5626/F: 401-223-4984

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