Nov 172014
 

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By G. Steven Bray

If you think you’ve heard this before, well, you have. Mortgage rates last week barely budged, which is okay given that we’re still close to the lowest rates of the year. And the week ahead looks like it could be another snoozer. The only scheduled event really likely to spark market interest is the mid-week release of the minutes from the last Federal Reserve meeting. Markets will look for evidence that the Fed has suppressed feelings about the strength or weakness of the economy. In particular, it will be interesting to see the Fed’s thoughts about how a strengthening dollar and global economic weakness might impact US growth.

So, could rates go any lower? It’s certainly possible, but I suggest caution if you’re betting on this outcome. Most US economic indicators are positive, which tends to push rates up. It seems that the market eye has an unusual focus on overseas issues. Should its gaze return to our shores, rates could bump up rather quickly.

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