Hello Ken Unangst here with the Lehigh Valley Wealth Center daily interest rate update…
Mortgage Bonds are being pressured lower pushing long term mortgage rates higher. Although there were no economic reports delivered today, several key pieces of news are pushing Stocks higher at the expense of Bonds. First, retail bellwether WalMart reported far better than expected sales and earnings for 4th Quarter, hitting an all-time record of $100 Billion. Additionally, breaking news from Cuba, as Fidel Castro has made the decision to step down as President, stocks moved higher on the morning’s news, pulling money out of Bonds. Inflationary concerns continue to weigh heavily on interest rates as inflation erodes the fixed return of bonds. Why? Simply because inflation means it will cost more for investors down the road to buy the very same things today. At the Wealth Center we focus on Strategic Mortgage Planning, whether you are refinancing or purchasing a home, we can deliver a mortgage and a plan that will help you succeed in today’s volatile market. Thank you.
