November 22nd, 2013
Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking
MBS’s begin the day slightly better, currently at +9bps. Interest rates remained the same as yesterday while lender credits improved slightly on some rates. Talk on QE3 tapering has caused the interest rate markets to worsen in general over the last few days, but we don’t feel they are warranted and find it being the same trend that occurred last month and after the FOMC meeting where tapering did not occur, interest rates improved. We expect the same thing to happen in December as long as November’s Jobs Report doesn’t surprise markets like October’s did. There are no economic reports due today, but real estate website Zillow reported the number of homeowners underwater declined at the fastest pace ever in Q3. Hope you have seen the value of your house increase this year. Have a great day and nice weekend!
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 4.146% APR.
20 year fixed rate: 4.000% with 4.130% APR.
15 year fixed rate: 3.000% with 3.235% APR.
10 year fixed rate: 3.000% with 3.263% 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