The debt issue in Greece is still not completely resolved, but it is nearing the end. In the meantime, Stocks are benefiting at the expense of Mortgage Bonds which are trading at lower levels now. Greece's problems are far from over, however. This debt deal is only giving them a small boost in the now, but it will bring up new problems down the road. Germany has imposed tighter fiscal union guidelines on the country, and they also have to contend with the austerity measures that we've mentioned before.
Switching back to America, a new Jobs Report is expected soon that will detail how we're doing with our economic recovery. A recent count of Jobless Claims is at 362,000 which is higher than last week's 354,000. This puts the Unemployment Rate at 8.3% right now.
The Jobs Report will have more to say, but right now we would advise our clients to Lock before the report comes out. There could be a negative effect on Bonds, making them drop even further, depending on the report. That would in turn cause home loan rates to increase. Lock while you can!
Thursday, March 8, 2012
Mortgage Update
1 comments:
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Mortgage Specialist
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