December 5th, 2013
Interest rate trends: Today – Higher; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking
MBS’s continue on a worsening trend with the GDP figure coming in better than expected for Q3 and Initial Jobless Claims declining 23k. Analysts are recommending locking going into tomorrow’s Jobs Report, which will likely be an interest rate mover. The trend is not on the side of lower interest rates, so we expect a jump of .125% or 1/8th to the interest rates tomorrow when the Jobs Report comes out north of 200k. If for some unseen reason the Jobs Report comes out lower, we could see a decrease in interest rates by about the same amount. I give it a 75/25 percent chance the report will show north of 200k and rates will increase. I hope I’m wrong, but analysts are saying the same thing and thus the lock recommendation. 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: 4.250% with 4.313% APR.
20 year fixed rate: 4.125% with 4.226% APR.
15 year fixed rate: 3.250% with 3.340% APR.
10 year fixed rate: 3.125% with 3.335% 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