Releases Mortgage Rates Update - Year End Economic Impacts

Share Article releases update analyzing the cause and effect of sideways moving mortgage rates and whether U.S. consumers can expect changes before year's end.

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The weekly analysis of mortgage rates found that mortgage rates have remained mostly unchanged since last week. This comes as no surprise as there were no huge changes within the U.S. or European markets. Though the EU Summit did lead to a treaty addressing measures to fix Europe's economy, investors were still cautious and kept their money in the U.S. bond market.    

Current interest rates are:

         4.00% - average rate for a 30-year fixed rate mortgage
         3.3% - average rate for a 15-year fixed rate mortgage

Last week the most positive news for buyers came from the Housing Affordability Index which reported that all indicators are in their favor. The Index showed that housing affordability was at an all time high, rates are at near-record lows and home prices may still go a little lower in some areas of the country.

This week is active with economic reports as well as the last Fed meeting of 2011. Below is an overview of activities that may affect mortgage rates.

Tuesday - Retail Sales for November report and Fed meeting statement
Thursday - Producer Price Index report which measures inflation at the wholesale level
Friday - Consumer Prices report which measures inflation on the consumer level is predicting that there will be little to no changes for mortgage interest rates. However, if the Fed announces they'll be making debt purchases bond prices will likely be affected which will cause a drop in interest rates. Should inflation numbers rise above the expected .1-.2% then there will likely be a slight increase in interest rates.

To find more information on mortgage rates, the latest homes for sale and real estate resources, please visit:

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Ace Elliott
Star Nine Ventures
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