Friday, September 18, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Sept 18th, 2009

Current Pricing of FNMA 30 Year 4.5% Bond: $100.56
-34 bps (Prior Close – $100.90)

Market Update: Mortgage Backed Security (MBS) pricing is much lower this morning after yesterday's nice rally. This is largely due to profit taking and strength in the Stock market. Stocks could be volatile today for a number of reasons, including expiring Stock index futures and light trading (which makes the market have exaggerated moves) due to Rosh Hashanah. This also means we may see high volatility in the Bond market as well.

Economic News: There are no economic reports due for release today.

Recommendation: LOCK

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email

No comments: