What's News In The Economy?

This week's manufacturing data shows that the long series of Fed hikes has slowed the economy even more than anticipated. While this means that the desired result is here, there is some concern that the action which has been taken was more than needed. The bottom line is that the economic data released this week tells us that further rate hikes are very unlikely. This means that interest rates for second mortgages and home equity lines of credit are going to stay stable at least through the end of 2006, which is good news for consumers.

Mortgage rates are currently at or near their best rates of the last six months. Combine that with the talk of the current "buyers market" environment, and now may be the time to take action if you have been considering a home purchase.

As always, I am available to help at 414.807.7277.