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What May Move Mortgage Rates This Week!

Posted by Ivan Sanchez
Ivan Sanchez
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on Tuesday, 19 June 2012
in Gold Quest Group

What May Move Mortgage Rates the week of June 18, 2012

Here are a few of the scheduled economic indicators which may impact mortgage rates this week:

  • Tuesday, June 19: Housing Starts and Building Permits.
  • Wednesday, June 20: FOMC Meeting
  • Thursday, June 21: Initial Jobless Claims, Existing Home Sales and Fed Index

Remember, mortgage interest rates are based on mortgage backed securities (bonds) and when the stock market is rallying, rates tend to trend higher. The reverse is also true, as investors will seek the safety of bonds when stocks are tanking.

As Greece seems to be out of the hot water for now, the next event to watch for may be the results of the FOMC Meeting on Wednesday. All eyes and ears will be tuned in for whether or not there will be more stimulus with QE3.

Gold Quest Group post rate and mortgage updates on Twitter and our Facebook page



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