What’s Ahead For Indiana Mortgage Rates This Week : January 24, 2011

What’s Ahead For Indiana Mortgage Rates This Week : January 24, 2011

Mortgage markets worsened last week in a holiday-shortened trading week. As the body of U.S. economic data continues to show slow, steady improvement, Wall Street is becoming a net-seller of mortgage-backed bonds.¬†As a result, conforming mortgages rates in Indiana are rising. This is why conforming and FHA mortgage rates rose last week in Indiana. Existing home supplies plunged to a 2-year low in December, and unemployment claims dropped more than expected, giving hope for the U.S. economy in 2011. This week, that trend may continue. There’s a lot of news set for release. The biggest story of the week is Federal Open Market Committee’s 2-day meeting. Scheduled for Tuesday and Wednesday, the FOMC’s meeting is the first of its 8 scheduled...

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