Monday, November 23, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 23th, 2009

Current Pricing of FNMA 30 Year 4.5% Bond: $101.78
+0 bps (Prior Close – $101.78)

Market Update: Mortgage Backed Security (MBS) pricing is unchanged today from Friday's close. The Stock market is showing very nice gains this morning and this will probably limit the potential for lower home loan rates.

Economic News: Existing home sales were reported much higher today, beating analysts expectations. The inventory of unsold homes also hit it's lowest level in more than 2 years. These reports are good signs for the current housing market.

Recommendation: LOCK

If you're considering purchasing or refinancing, contact The Krushinsky Team at 602-695-7575 or email to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

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