December 3rd, 2013
Interest rate trends: Today – Lower; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking
MBS’s are getting a little boost better today due to the decline in the stock market. There are no economic reports due today, but the next 3 days are packed full and will most likely cause rates to be volatile. We maintain our locking bias going into the economic reports tomorrow, Thursday and Friday. We expect the economic reports will be at least as good as expected and pressure interest rates slightly higher. Core Logic reports home prices went up 12.5% from October 2012 to October 2013. They continued to report that home prices are at the same level as they were in April 2005, but still down 17.3% from all-time high in April 2006. Lock and enjoy, or hold on for the ride. 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 3.269% APR.
10 year fixed rate: 3.125% with 3.256% 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