Mortgage Rate Weekly Forecast July 20, 2009

Mortgage Rates improved late today as the MBS market posted a healthy improvement alongside the DOW.  As stated in Last Week’s Review Mortgage Rates are positioned to improve this week with the light Economic Calendar and absence of any Treasury Auctions.

The week’s key events are Fed Chairman Bernanke’s Tuesday testimony on Capitol Hill and Thursday’s Existing Home Sales data.  Mortgage rates remain volatile so if you’re offered a rate that comfortably fits your household budget, consider locking in before the market can change.

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