Mortgage Rate Update March 19, 2012

Posted on by Evan in Rate Update

Mortgage rates are unchanged this morning.

The economic calendar features a real estate related indicator every day this week.  Statistically the housing sector remains soft but anecdotal evidence suggests otherwise.  It will be interesting to see if this week’s reports reflect improvement.  If so, we may see rates tick up another .125% or so.

NEW YORK FED PRESIDENT WILLIAM DUDLEY

Aside from real estate indicators the markets will listening to Federal Reserve Officials who are scheduled to speak throughout the week.  Earlier today New York Federal Reserve President William Dudley took a “middle-of-the-road” position by pointing out recent economic gains AND warning that the US economy was yet out of the woods all in the same speech.

For now I will remain in a neutral position.

Current Outlook: neutral