November 13th, 2013
Interest rate trends: Today – Slightly lower; 10 days – Higher; 25 days – Higher.
Interest rate recommendation: Cautious float
MBS’s continue to improve slightly as stock retreat on fears of a sooner than earlier thought or even a December tapering of QE3. We still do not feel the Fed will taper QE3 in December, but it is possible they will before Q2 2014. October’s Jobs Report was a shock and if November’s report is equally good, we will likely see interest rates climb a little. There are no economic reports being released today and while MBS’s continue to improve, we’ll switch to a cautious float and see how much of Friday’s losses we can recoup. Yesterday’s Treasury auction garnered a “B” rating, not bad and thus helped rates slightly. Today the Treasury will auction $24 billion in 10 year notes. MBS’s are currently better by +31bps. Sentiment can change quickly however, so be ready to lock just in case the market turns the other direction. Have a great day!
This email is sent out once per day, but on our website, on the “Interest Rates” page, you will see a “Current rate trend” indicator to see what interest rates are doing throughout the day.
30 year fixed rate: 4.000% with 4.115% APR.
20 year fixed rate: 4.000% with 4.086% APR.
15 year fixed rate: 3.000% with 3.180% APR.
10 year fixed rate: 3.000% with 3.183% APR.
Use the link below to see all our posted interest rates:
Please visit http://www.galmc.com for further information and/or to apply.
We hope to earn your business.
Have a great day and thank you for choosing Great American Lending.
Dale Packer, MBA
Spencer Packer – Colorado & Utah