Mortgage Update from Logan Tinder, C&F Mortgage Corp.

Mortgage Update From Logan Tinder, C&F Mortgage Corp:

Due to the short week and Thanksgiving holiday, as expected, rates suffered last week. Ticking up about half a point.

This week so far, the EURO is considerably weaker as European debt fears continue. The EU approved a $113b bailout for Ireland over the weekend but the reaction the last few days has been poor. Rumors continue to swirl about Belgium, Portugal and Spain being next. When things like this occur we usually see some flight to quality buying of US debt, which has been the case as of late. This will drive up bond prices (higher demand) and in turn drive rates back down.

As long as there is tension or global uncertainly, mortgage rates will tend to benefit. As mentioned above, US Debt is still viewed as a safe spot to park money.

How the data releases pan out the rest of the week, will certainly play a role in the direction rates will take into the beginning of December.

On tap:

-ADP Employment Report
-Q3 Productivity
-ISM Index
-Employment Report

The Employment report serves as the most important data release every month. An increase in unemployment will likely pressure rates downward...SO THIS IS THE TIME TO BUY!

Have a great week and please let Logan and/or I know if we can assist in any capacity!

Logan Tinder
C & F Mortgage Corp.
Home Mortgage Consultant
Direct : 804-858-8325
Cell : 804-240-9264
Main: 804-858-8300 ext. 305
Fax : 804-419-8481
www.logantinder.com