Welcome to December, MBS’s begin the week/month worse

December 2nd, 2013

Good morning!
Interest rate trends: Today – Higher; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking
Welcome to December, MBS’s begin the week/month worse as we look at an action packed week with economic reports ranging from the ADP Employment report on Wednesday to the GDP report on Thursday and finally to the highly watched November Jobs Report being released on Friday. Today the ISM Index came in better than expected, also contributing to the worsening market presently. MBS’s are worse by -31bps. Although interest rate analysts are recommending floating, we maintain our locking recommendation in expectation that the Employment & Jobs reports will be at least as good as expectations. 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: 4.125% with 4.188% APR.
20 year fixed rate: 4.000% with 4.145% APR.
15 year fixed rate: 3.125% with 3.251% APR.
10 year fixed rate: 3.000% with 3.210% 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