Tuesday, October 13, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 13th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $101.12
+22 bps (Prior Close – $100.90)

Market Update: Mortgage Backed Security (MBS) pricing is starting the day higher today after Friday's sharp decline. Bonds will look to take direction from the Stock market today, as there are no economic reports being released. With Bond prices moving slightly higher, home mortgage interest rates will move lower.

Economic News: There are no economic reports being released today.

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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