|
Weekly Review
|
|
Week of May 13,
2012
With news stories
reinforcing the fragile state of the global economy, mortgage rates again
moved into record low territory last week. Highlighting the challenges facing
Europe, financial services firm, J.P. Morgan, announced loses totaling over
$2.3 billion dollars on complex bets that were intended to protect the firm
from exposure to the European debt crisis. Fed Chair Bernanke also spoke last
week, with little new insight into the Fed’s future plans or current view of
the economy. This week is an extremely busy week of important economic data
points. The CPI, Retail Sales, Industrial Production, LEI and others are due.
With mounting evidence that the economy is shifting into a lower gear, any
data that confirms that prognosis will apply more downward pressure on
mortgage rates. Europe may also play a significant role in any movement in
mortgage rates this week. With political challenges mounting, and growing
evidence of even slower growth in the European bloc, any additional bad
news from across the pond could pressure rates even lower.
|
|
Mortgage Rates
|
 |
Information
provided by Allen Hua with Graystone Mortgage; please contact him at
801.983.8235 or at AHua@graystonemortgage.com
with all of your mortgage needs!
