Scott Kinne First Heritage Mortgage

Scott Kinne's Mortgage information Blog

  • About Scott
  • Testimonials
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Home Appraisal
    • Home Inspection
    • Affordable Credit Repair
    • Interest Rates
    • Loan Programs
    • Loan Process
    • Loan Checklist
    • Mortgage Glossary
    • Mortgage FAQ
  • Main Website
  • Contact
  • Apply

The Five Words Spoken By Ben Bernanke That Rattled Mortgage Markets

June 6, 2007 by Scott Kinne

Behold the power of the English language.

With just five words, Federal Reserve Chairman Ben Bernanke rattled markets yesterday.

In discussing how housing has slumped (and may continue to slump), Bernanke cited that weakness in the sector should not hold the rest of the economy back.

This is departure from earlier this year. In Q1, it was widely believed that a housing slowdown would result in a slowdown of consumer spending which, in turn, would result in a slowdown in overall growth.

Despite lackluster numbers in the housing sector and rising gas prices, however, the American consumer has proved quite resilient, and continues to buy, buy, buy. That slowdown doesn’t seem to be coming anytime soon.

Bernanke addressed his concerns about inflation by saying that the “risks remain to the upside.” Inflation, as you’ll remember, is the enemy of mortgage bonds.

Bernanke’s remarks jolted the markets somewhat. In seconds, the mortgage market turned and, by the end of the day, mortgage rates had finished the day higher.

Filed Under: Uncategorized

Scott Kinne

Contact Scott

Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

Licensed In Maryland, Virginia, Washington D.C., West Virginia
  LOAN APPLICATION
  FREE RATE QUOTE

Connect with Me!

Sign Up For My Free Newsletter

Categories

Recent Posts

  • Getting A Mortgage When Self-Employed: What You Need To Know
  • On Time, Every Time: How Being Late on Monthly Payments Can Affect Your Mortgage
  • What Is A Loan Contingency: An Overview
  • What’s Ahead For Mortgage Rates This Week – January 23, 2023
Equal Housing Lender
nmlsconsumeraccess.org
First Heritage Mortgage, LLC, Company NMLS ID #86548

Our Location

3201 Jermantown Road
Suite 800
Fairfax, VA 22030
Business: 703-293-6146
Cellphone: 571-237-6241

Copyright © 2023 · Powered by MySMARTblog