Mortgage Rate Trends Currently Difficult to Predict

April 7, 2009

Daily Mortgage Updates

7 April 2009 – Due to the holiday week, financial news expected to be released this week is very light. However, recent speculation about the International Monetary Fund (IMF) releasing a report soon suggesting global toxic assets could top the scales at $4 trillion, of which it’s suggested that $3 trillion pertains to just the U.S. market; a 50% increase over what was originally thought to be a total of $2 trillion in U.S. toxic assets. In addition, the reinstatement of the Uptick Rule, the kickoff of first quarter earnings reports, and recent comments by well known hedge fund manager, George Soros, about an insolvent U.S. banking system and overall concerns about the economy have made predicting mortgage interest rate trends extremely difficult. For the moment we suggest a cautiously floating position as we learn more about the state of the financial sector.

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About Alicia Hyland

Alicia has over 20 years experience in the financial sector including tax, accounting, financial analysis and mortgage loan origination. She enjoys working with new housing developments and first time home buyers. She subscribes to several financial services such as Mortgage Market Guide, My Loan Biz, Wall Street Online to name a few to stay current on matters affecting the housing industry.

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