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Larry Weinstein’s

Weekly Mortgage Newsletter Week of Sept. 18, 2011 Mortgage Market Commentary

Reminiscent of the days when needles skipped backwards and replayed a line from a song over and over, mortgage rates set a new record low again last week. Economic news was similar to what we have been seeing for some time, highlighting the fragile, extremely-slow, but still growing economy. So, can mortgage rates go even lower in coming weeks? The answer is absolutely maybe. While few analysts believed we could continue to see such low mortgage rates, anything, including even lower mortgage rates is possible. This coming week could set the tone for rates for the next few weeks with the Fed meeting for two days to discuss monetary policy. Most analysts are expecting a significant announcement to come from the Fed. Some of the programs that experts are predicting the Fed may launch, such as changing the mix of investments the Fed holds, could push long and short-term rates in opposite directions. In any event, mortgage rates are likely to stay at low levels for the foreseeable future with occasional flares upward on good economic news.

American’s Healthiest Cities Using the American College of Sports Medicine’s American Fitness Index, Forbes magazine recently released a ranking of the 20 healthiest cities in the US. Looking at everything from smoking bans to healthy habits of its citizens, Minneapolis, MN takes this year’s crown. Runners up include the metro areas of Washington, D.C., Boston, MA, Portland, OR, Denver, CO, San Francisco, CA, Hartford, CT, Seattle, WA, Virginia Beach, VA, and Sacramento, CA.

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Worth Remembering

Mortgage Rate Watcher 15 Day Rate Trend 30 Day Rate Trend Market Volatility

Î Î High

30Yr

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4.75%

If you really do put a small value upon yourself, rest assured that the world will not raise your price.

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Private Mortgage Banker y NMLSR ID 21242

3.00

Direct 212-692-8361

2.75 2.50 2.25

Cell 516-236-7486

LWeinstein@decapitalmortgage.com

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20 Day Moving Ave

205 E. 42nd St., 6 th Floor, New York, NY 10017

All first mortgage products are provided by DE Capital Mortgage, LLC. DE Capital Mortgage, LLC may not be available in your area. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. ©2011 DE Capital Mortgage, LLC. All Rights Reserved. NMLSR ID 345546 #564987 3/11-06/11


Weekly Mortgage Newsletter by Larry Weinstein