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Mortgage Rate Outlook for the Week of May 21, 2012

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Mortgage Rate Update 5-21-12Once again, we’re starting the week coming off a record breaking week. While the downward movement is sometimes very small, the market continues to set new all time lows all the same.

Last week saw the the possibility of a Greek exit from the Euro dominate headlines. This week will be no different with market watchers keeping a close eye on the European situation, with Greece Spain and Italy in their cross hairs. Europe has been a major source of downward pressure on mortgage rates for many months.

Mortgage Rates and the Week Ahead

This week is a bit light on economic data. The reports to watch are the Existing and New Homes sales on Tuesday and Wednesday and the Durable Goods Orders and Jobless Claims on Thursday. Don’t expect these reports to move mortgage rates unless the data is exceedingly good or bad.

Economic Calendar for Week of May 21, 2012

  • Monday - N/A
  • Tuesday - Existing Home Sales
  • Wednesday - New Home Sales
  • Thursday - Durable Goods Orders, Jobless Claims
  • Friday - Consumer Sentiment

Where Are Mortgage Rates Right Now?

Since mortgage rates can change many times per day, there is a very good chance they will have changed from the time we’ve written this till the time you read it. That’s alright though, we can give you an up to the minute quote via the fast quote form above or if you call us directly.

Have questions about loan programs? We can also answer any other questions you might have about loan programs and which loan makes the most sense for your needs, whether you are purchasing a home or refinancing an existing home.

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