Mortgage rates are holding. However, I would expect this week to be a very telling week for rate outlook. There is a fed meeting on Wednesday where Bernanke will be stating what is happening with the QE2 which is scheduled to be over here. Many people believe this will have a big impact on the rates, while others believe that its impact is already factored into the market – we will only know after the announcement is made! There is a lot of pressure on the economy right now too: from rising energy costs which are fueling the fears of inflation and concerns over the debt ceiling limit and what are government will do about it. We are in a really volatile period right now.
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