Tuesday, September 22, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Sept 22nd, 2009

Current Pricing of FNMA 30 Year 4.5% Bond: $100.56
+9 bps (Prior Close – $100.47)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher this morning after yesterday afternoon's sell off. Bonds will once again take direction from the Stock market today.

Economic News: There are no economic reports due for release today. The Federal Reserve starts it's 2-day meeting today with the official FOMC statement coming on Wednesday afternoon about interest rates. The results for the $43 Billion 2-Year Treasury Note auction will also be released this afternoon.

Recommendation: FLOAT

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

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