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Michael Arshaid's Blog

By Michael Arshaid | Agent in Anaheim Hills, CA

Weekly Mortgage Watch - Week of January 15, 2012

Weekly Mortgage Watch
 
Mortgage rates again fell into record territory last week, held low by concerns about the global
economy and speculation that the Fed may launch another Treasury or MBS-buying program this
year.  However, this is very early speculation without many hints from Fed officials.  Retail sales did
come in lower than expected, but still managed to post a tiny gain.  Overall, the US economy is still
showing many positive signs, but risks to its health are numerous.

We start the third week of the new year with mortgage rates hovering around record territory, with
little reason to see any significant movement in the near term.  This week, both the Producer and
Consumer Price Indices are due.  With inflation seeming to be a problem for the distant future, even
an unexpected tick upward for one month will likely draw a muted reaction from the market.  If both
indicators continue to stay low, then the Fed does have a little more leeway in any future programs it
might be considering, and in turn, mortgage rates will likely stay low.

Freddie Mac's Primary Mortgage Market Survey
                        January 12            1/5/12
30 Year Fixed    3.89%                    3.91%
15 Year Fixed    3.16%                    3.23%
One Year ARM  2.76%                    2.80%

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