All the talk last summer of an imminent rate move by the Fed by the end of the year not only has died down it’s pretty much non-existent. In fact, various Fed board governors have not just hinted there won’t be a Fed Funds increase Mortgage ratesthis year they’ve come right out and said it at various functions. This has kept interest rates for real estate investors in a very nice range with the 15 year long term note just over 3.00%, this according to Freddie Mac’s most recent mortgage rate survey. The rate for a primary residence on a 30 year loan dipped under 4.00% as well coming in at 3.96%.

The Dow has been recovering as of late and as of today is comfortably above the 17,000 mark. It could take some effort to get back above 18,000 before the year ends but it’s not very likely. If the Dow keeps in its relative range and the Fed does in fact hold off on any rate action long term interest rates should be held in check quite possibly into next year. Whether someone is financing a first home or an investor is financing a duplex the news couldn’t be much better.

The Commerce Department is coming out with the first peek at Q3 GDP next week and at first glance analysts aren’t looking for anything near the Q2 3.9% number. There shouldn’t be anything close to 1.00% but we’ve been taken off guard more than once over the past year with this number. It’s the advance look at Q3 and there will more than likely be revisions over the next few weeks but if we do see a weak GDP estimate it might very well be confirmation of a slowing economy. There have been jobs created but job creation has become steadily weaker over the past several months.