Monday, November 9, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 9th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $101.41
+12 bps (Prior Close – $101.29)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from Friday's close. With Bond prices increasing, this lowers mortgage interest rates for borrowers financing a home.

Economic News: There are no economic reports today but there is plenty of supply hitting the market from the Treasury auctions announced last week. This added supply to the market could weigh on Bond prices.

Recommendation: FLOAT

For information on home financing, contact The Krushinsky Team at 602-695-7575 or email

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan or refinancing, please contact us directly.

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