MBS’s started the day on the down side (worse) but turned back to flat

November 21st, 2013

Good morning!
Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Flat.
Interest rate recommendation: Locking
MBS’s started the day on the down side (worse), but after a worse than expected Philly fed report, MBS’s have come back to flat levels. Interest rates and lender credits did worse a bit today, we hope to get some of that back within an hour as MBS’s improve from earlier this morning when lenders posted their interest rates. Volatility is high as we see MBS’s move from negative to positive back to negative and now positive again at +6bps (the best of the day so far). Interest rates took a hit yesterday afternoon, all on fears of tapering occurring earlier than expected. These are the same fears we saw prior to the November FOMC meeting and when the Fed did not taper, interest rates improved. We suspect the same is occurring presently. After we get a repost for the better, which we do expect within an hour or two, we maintain our locking recommendation. You will be able to see when the repost occurs by looking at the Interest rate page on our website where I indicate a change for the better or worse. 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 4.168% APR.
20 year fixed rate: 4.000% with 4.159% APR.
15 year fixed rate: 3.000% with 3.254% APR.
10 year fixed rate: 3.000% with 3.289% 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