Mortgage rates for Santa Barbara properties end the week practically unchanged after volital week

Continuing winds of change were again working to keep the market of financials from settling just yet, throughout last week. Monday news brought a nice shot upwards for the stock market, as brow beaten Bear Stearns now is predicted to get $10 a share in their buyout, rather than a reported $2 a share. Very good news for a anxious financial sector, but Bonds got beaten down, as money jumped from bonds to stocks – causing the Santa Barbara homes mortgage market interest rates to increase.
But as the week moved ahead, some bad news had differing effects, including a dip in Consumer Confidence and further unsettled, but improving news in the Santa Barbara housing marketplace, which sent money right back away from stocks, and into the safer refuge of the bond market, helping Santa Barbara area mortgage rates to reduce once again. But every action has equally the opposite reaction, and bonds and home mortgages reversed direction again, with better than anticipated unemployment news for Thursday.
Of course Friday found the news that Core inflation was probably not as heated as previously believed. The closely watched year to year core inflation numbers were reported at only 2%, as calculated by the Fed’s preferred Personal Consumption Expenditure Index (PCE), and certainly within parameters for what Fed members would prefer to observe for core inflation. Of course inflation is the nemesis of fixed rate bond issues as well as home mortgage interest rates. So this news was well received, and moved Santa Barbara properties mortgage rates to an improvement once more. So after all was said and done by the end of the week, Santa Barbara real estate mortgages ended up close to where they started, after a bit of volatility.

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