November 18th, 2013
Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat.
Interest rate recommendation: Cautious float
MBS’s continue to improve for the 5th straight trading day and have gained back all that was lost 2 Friday’s ago with the much better than expected government Jobs Report. Presently MBS’s are better at +31bps on the day and interest rates are about to drop .125%. The lender credits did improve today so pricing is looking really nice. The Equity markets are experiencing all time highs with the Dow above 16,000 and the S&P at 1800. MBS’s have hit the 200 day moving average, which is the 2nd layer of resistance. This makes it increasingly more possible for a selloff or “profit taking” causing rates to worsen slightly after 5 days of continued improvement. Although we continue our cautious float recommendation, we add a word of caution as we expect some profit taking to take place in the bond market. 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 4.041% APR.
20 year fixed rate: 3.875% with 3.990% APR.
15 year fixed rate: 3.000% with 3.108% APR.
10 year fixed rate: 3.000% with 3.078% APR.
Use the link below to see all our posted interest rates:
Please visit http://www.GreatAmericanLending.US 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