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Mortgage Rates In King of Prussia, Plymouth Meeting, Blue Bell PA: A Look Ahead the Week Of March 14,2011

Mortgage Rates In King of Prussia, Plymouth Meeting, Blue Bell PA: A Look Ahead the Week Of March 14,2011

 

Mortgage markets opened a significantly better this morning. Look for Mortgage Rates To Decline.

 

In brief, the DOW is selling off due to the turmoil in Japan. With huge repair and infrastructure costs, plus the threat of Nuclear reactors, there is a flight to quality such as US Treasuries and Mortgage Backed Securities. See the chart below show the upward trend in Mortgage Markets, spelling lower mortgage rates in the King of Prussia, Plymouth Meeting, Blue Bell and surrounding markets. How long will this last? fundamentally, markets do not support this rally. I believe it is short lived. Once Japan regains some stability, we look for focus to return to the fundamentals of the recovery and mortgage rates to reverse there upward trend.

 

 

 

 

There are no economic reports scheduled today, the calendar has data points mid-week however. This week is marked by tomorrow's FOMC meeting with the short policy statement out at 2:15 Tuesday afternoon.

 

This Week's Economic calendar:

       Tuesday; 

           8:30 am Empire State manufacturing index (17.0 frm 15.43 in Feb)

                       Feb import and export prices (N/A)

          10:00 am NAHB housing market index (17 frm 16)

          2:15 pm FOMC policy statement 

     Wednesday;

          7:00 am weekly MBA mortgage applications

          8:30 am Feb housing starts and permits (starts -4.4%, permits +2.0%)

                       Feb PPI (+0.6%; core +0.2%)

                      Q4 current account balance (-$110.0B)

     Thursday;

         8:30 am weekly jobless claims -10K to 387K; con't claims 3.750 mil frm 3.771 mil)

                      Feb CPI (+0.4%; core +0.1%)

         9:15 am Feb industrial production (+0.6%)

                      Feb capacity utilization (76.5% frm 76.1%)

        10:00 am Feb leading economic indicators (+0.9%)

                      Mar Philadelphia Fed business index (28.0 frm 35.9 in Feb)

 

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Joe Gonzalez
Senior Loan Consultant

Meridian Bank - NMLS #126036
920 Germantown Pike, Suite 102 | Plymouth Meeting, PA 19462 | t: 610.739.6563 | f: 610.351.7810 |www.JoeGonzalez.net

 
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For help or questions contact:

Joe Gonzalez

Senior Loan Consultant -  NMLS #126036
GMH Mortgage Services, LLC
625 W. Ridge Pike, Building C, Suite 100 | Conshohocken, PA  19428 | Direct: 610-355-8039 |  Cell: 610-739-6563

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Comment balloon 0 commentsJoe Gonzalez • March 14 2011 11:18PM

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