Wednesday, September 30, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Sept 30th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $101.34
+0 bps (Prior Close – $101.34)

Market Update: Mortgage Backed Security (MBS) pricing is unchanged today from yesterday's close. There were some big reports issued today and the Stock market is currently in the red. We don't think there will be a significant amount of volatility until Friday, when the Jobs Report is released.

Economic News: The monthly ADP report was released this morning showing higher losses in the job market than expected. Also in the news, the Chicago Purchasing Managers Index was released significantly lower than expected. In other economic headlines this morning, the Final Gross Domestic Product for the second quarter was revised for the better.

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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