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Previewing the markets in February

 

The economy and stock market had a turbulent moth to start the year, what is likely to happen in the month of February?

January is a month most investors would love to forget. The stock market lost over 500 pt's and investors around the world felt the aftershock of the fallout of the U.S. housing markets. Looking forward into February, what should we expect for the stock market and mortgage rates. The month starts off early start with some key economic news to digest with the January jobs report due out on the first of the month. The Fed is not scheduled to meet during the month of February, but the fed funds rate has already been reduced over 1.25% in 2008. Mortgage rates bottomed out in the middle of January when the ten year bond dropped to 3.33%, its lowest level since 2003. Heading into February the ten year bond was trading in the 3.5-3.6% range and a good indicator that fixed mortgage rates were still below 6% for most borrowers. The stock market is likely to remain volatile as investors gauge the chance of a U.S. recession. February could mark the month when the government signs off on its fiscal stimulus package which could provide some news to rally on. If you are floating your mortgage rate, keep a close eye to the stock market as rates have a tendency to rise very quickly during uncertain economic times.

 

2-1-2008 ? LoanNetwork.com

 

 

 

 

previewing february @ loannetwork.com

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