Economic Trends Could Send Rates Lower

The FOMC minutes revealed the Fed is continuing to struggle with how to deal with the taper and what might be its long-term impact. If data continues to show more softness in the economy, the Fed is likely not to add additional tapering at its next meeting on January 28-29.

Some important economic data is due out this week that could see rates heading lower. The U.S. Census Bureau reported on Tuesday that retail sales in December rose a modest 0.2% and November was revised down from 0.7% to 0.4%. Housing Starts and Industrial Production due out this week are also expected to show little growth. If that holds true, rates could continue their downward trend.

This column takes a look at current mortgage rates, market trends and indexes.  Jon Lamkin is Vice President of Mortgage Lending for Guaranteed Rate, 322 Route 46 W Suite 170 • Parsippany, NJ • 07054.  He may be reached at 973.939.8661  /  /

The opinions expressed herein are the writer's alone, and do not reflect the opinions of or anyone who works for is not responsible for the accuracy of any of the information supplied by the writer.

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