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Mortgage Rate Update for Week of June 11, 2012

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All Eyes on SpainLast week saw mortgage rates rise earlier in the week and then close the week on new historic lows. Today has seen mortgage rates close steady, with a fractional change higher or lower depending on who you talk to.

This week could be marked by volatile movement as well as there is little economic data being released, but lots of speculation and movement regarding Eurozone countries.

Will the Market See Bulls or Bears for Spain?

With a quiet week ahead in terms of economic data being released, the market will look even more intently at equities markets and news coming out of Europe for guidance.

A new $100 billion euro or $125 billion US dollar bailout has been announced for Spain. While details are still spotty regarding the details of this bailout, the details have the potential to inspire confidence or fear in market watchers, which can translate into higher or lower mortgage rates in the US. Market watchers will be listening closely to these details as they surface in the coming days.

Economic Calendar for Week of June 11, 2012

  • Monday – N/A
  • Tuesday – Import & Export Prices
  • Wednesday – Producer Price Index, Retail Sales, Business Inventories
  • Thursday – Jobless Claims, Consumer Price Index
  • Friday – Industrial Production, Consumer Sentiment

Where Are Mortgage Rates Now?

Since mortgage rates can change many times per day, especially in a week of volatility like we’re expecting this week, there’s a good chance that any rates we post here will be out of date by the time you read them.

To get an up to the minute mortgage rate quote, simply request a fast quote using the form above, or even better yet, give us a call and say hi! We’ll be glad to answer any mortgage questions you have and help you understand which loan programs are available and which ones make the most sense for your needs!

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