Good Morning,
I hope that you had a fabulous Thanksgiving. One of the questions that came up during conversations with friends and family in my neck of the woods is the disbelief that mortgage rates are still so low! I thought I would take a moment to give you a little more insight into that:
With Wall Street unsure about the economy's path, investors look to our nation's central bankers for guidance.
The Federal Reserve has made several points clear:
-- The economy shows tell-tale signs of improvement
-- Unemployment threatens the recovery
-- Inflation pressures are low, for now
Overall, the Fed Minutes from their previous meeting paint the economy as in a state of measured repair, and under tight federal surveillance. Investors like this message and, as a result, stock and bonds markets are improving.
If you haven't checked mortgage rates lately, make a point to do that. In the wake of the Federal Reserve Minutes, conforming mortgage rates are now hovering near their all-time lows set exactly 1 year ago. I hope that you have a great rest of your day. If you have any questions, please let me know. In the meantime, if there is ever anything that I can do for you, please feel free to reach out.
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