Thursday, September 24, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Sept 24th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $100.94
+28 bps (Prior Close – $100.66)

Market Update: Mortgage Backed Security (MBS) pricing is higher today.

Economic News: Initial Jobless Claims came in below expectations. Bonds worsened initially, but moved back to positive territory. Existing Home Sales were also reported less than expected. However, the inventory of unsold homes fell to the lowest inventory level since April 2007.

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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