December 9th, 2013
Interest rate trends: Today – Slightly better; 10 days – Higher; 25 days – Flat
Interest rate recommendation: Cautious float
MBS’s continue their move better after Friday’s Jobs Report. Currently MBS’s are at +19bps. The National Association for Business Economics survey shows a 2.8% GDP for 2013 and Fed tapering to begin in the first half of 2014. We agree. There are no economic reports due out today, but the Treasury will auction $64 billion in debt this week, beginning on Tuesday and ending on Thursday. The next FOMC meeting is on the 17th and 18th of December and will have a monetary policy statement after they end on the 18th. We do not expect any changes to the policy, but perhaps a little discussion on tapering. We continue our cautious float while MBS’s continue to improve. Be ready to lock as soon as sentiment changes. 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 4.219% APR.
20 year fixed rate: 4.125% with 4.182% APR.
15 year fixed rate: 3.125% with 3.288% APR.
10 year fixed rate: 3.125% with 3.282% 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