MBS’s are flat to slightly worse this morning

December 12th, 2013

Good morning!
Interest rate trends: Today – Slightly higher; 10 days – Higher; 25 days – Flat
Interest rate recommendation: Locking bias
MBS’s are flat to slightly worse this morning on a mixed bag of economic news. Initial Jobless claims came in much higher than expected, but Retail Sales came in slightly higher than expected. Yesterday’s 10 year bond auction garnered a dismal C- rating and cause MBS’s to sell off and lose -40+bps. Those that locked based upon our locking bias did well. Today the Treasury will hold another auction, this time 30 year bonds, which tend to not be as good anyway, we don’t expect this one will be well received either, and could once again cause MBS’s to worsen and rates to increase again later today. We maintain our locking bias. 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 4.302% APR.
20 year fixed rate: 4.125% with 4.226% APR.
15 year fixed rate: 3.250% with 3.358% 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.
Thank you.
Dale Packer, MBA
Spencer Packer – Colorado & Utah