Moore Mortgage Solutions

    We are most likely in for another volatile week with some days more so than others.

    The most important item on the agenda this week happens on Tuesday. The Federal Open Market Committee (FOMC) or what is commonly known as the Fed Meeting with Bernanke and Company will hold their scheduled meeting.

    At the conclusion of this meeting (2:15PM EST), the FOMC will issue a statement. None of the economic pundits feel this meeting will result in a rate hike. But the bond traders and everyone else will be dissecting this statement for any indication of rate hikes and inflation or not. If the Fed indicates concerned about inflation then the bond market will act negatively. And likewise if the Fed isn’t, then the bond market should rally and mortgage rates will see a dip.

    Other reports coming out that may affect the bond market will be June’s Personal Income and Outlays comes out prior to the Fed statement. This could move the market if we see sizable increases.

    The June’s Factory Orders data and the Employee Productivity and Costs Data come out respectively on Tuesday and Friday. Unless there is significant movement in this data, neither should have an effect on the market.

    There will be two auctions this week on Treasury notes-the 10-year Note and the 30-year Note. They will be held on Wednesday and Thursday. These will move the market only if there is lackluster interest from investors.

    In the meantime, I am available to answer any questions on your mortgage, if this is a good time to buy or refinance a home. And don’t forget to check out my Ready, Set, Go program.

    And please make each day an inspired one!

Betsy Moore

206-331-2749

betsy@mooremortgagesolutions.com

www.mooremortgagesolutions.com