Economic Trends Could Send Rates Lower
Wednesday, January 15, 2014 • 6:16pm
The FOMC minutes revealed the Fed is continuing to struggle with how to deal with the taper and what might be its long-term impact. If data continues to show more softness in the economy, the Fed is likely not to add additional tapering at its next meeting on January 28-29.
Some important economic data is due out this week that could see rates heading lower. The U.S. Census Bureau reported on Tuesday that retail sales in December rose a modest 0.2% and November was revised down from 0.7% to 0.4%. Housing Starts and Industrial Production due out this week are also expected to show little growth. If that holds true, rates could continue their downward trend.
This column takes a look at current mortgage rates, market trends and indexes. Jon Lamkin is Vice President of Mortgage Lending for Guaranteed Rate, 322 Route 46 W Suite 170 • Parsippany, NJ • 07054. He may be reached at 973.939.8661 / firstname.lastname@example.org / www.guaranteedrate.com/jonlamkin
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