Could it be a Green Christmas for Mortgage Rates?
Mortgage rates dropped for a third straight week last week. Is this a trend or blip on the radar? The next data point we’re going to get that should influence mortgage rates is the CPI data that comes out on December 13th. That number is likely to influence the direction the Federal Reserve takes interest rates. If we continue seeing positive numbers from inflation metrics, we’ll likely continue to see interest rates continue to cool off.
What’s the option to help save on a mortgage rate?
Temporary Buydown enables home buyers to reduce their rate for the first year or two of their loan. The seller can contribute to the loan to lower the the rate during the initial period, and then payments go back up after the initial period is over.
Guaranteed Rate has our Rate Reduce program that helps borrowers ease into home ownership with several available options. In fact, we offer five different types of buydowns to make getting into a home easier for your monthly budget. Discover more about how Rate Reduce works and get in touch with an expert today!
What’s on this week’s financial calendar?
There is a blackout period in effect for all Fed speakers, but there are still several events scheduled. This week will have the following events, announcements, and reports that could move the market:
Monday, December 5th
ISM Services Index
Factory Orders
Core capital equipment orders revision
Tuesday, December 6th
Trade deficit
Wednesday, December 7th
Productivity (SAAR) Revision
Unit Labor Costs (SAAR) Revision
Consumer credit (level change)
Thursday, December 8th
Initial Jobless Claims
Continuing Jobless Claims
Friday, December 9th
Producer price index final demand
UMich consumer sentiment index & 5-year inflation expectations (early)
Real household wealth & domestic debt growth
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in under 10 minutes. Grab a few important documents to get started.
- Tax Returns
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- A bank statement
- Loan obligation info (student loans,
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