MBS’s started the day doing well, but have turned worse

November 20th, 2013

Good Morning!
Interest rate trends: Today – Higher; 10 days – Flat; 25 days – Flat.
Interest rate recommendation: Locking
MBS’s started the day doing well, but have turned worse in the last few minutes. MBS’s took a hit yesterday afternoon as investors took the opportunity to sell and take some profits. In economic news today, Inflation remains stable, Retail Sales is slightly better, but Existing Home Sales declined by -3.2% in October. The Fed’s Bullard made it known that QE3 tapering is on the table for December, but in last night’s speech by Fed Chairman Ben Bernanke, he reiterated there will be no tapering until there is strong evidence the labor market has a strong hold on improving. Most analysts still believe there will be no tapering until earliest March 2014. Short term, as in days and weeks, we are recommending locking, longer term, as in month(s), we are feeling that rates will remain low. 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 4.073% APR.
20 year fixed rate: 3.875% with 4.033% APR.
15 year fixed rate: 3.000% with 3.144% APR.
10 year fixed rate: 3.000% with 3.130% 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.
Thank you.
Dale Packer, MBA
Spencer Packer – Colorado & Utah