Monday, September 21, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Sept 21st, 2009

Current Pricing of FNMA 30 Year 4.5% Bond: $100.66
+22 bps (Prior Close – $100.44)

Market Update: Mortgage Backed Security (MBS) pricing is higher this morning after a very volatile week. Bonds will likely take direction from the Stock market today. Bonds are higher this morning after a nice run-up in the equity markets, which is resulting in some profit taking from traders.

Economic News: There are no economic reports due for release today. However, this week will bring record size Treasury auctions beginning on Tuesday afternoon. Also this week, the Federal Reserve starts it's 2-day meeting tomorrow with their statement coming on Wednesday afternoon.

Recommendation: FLOAT

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

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