MBS’s are rallying after the opening woes

December 20th, 2013

Good morning!
Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat
Interest rate recommendation: Locking
MBS’s are rallying after the opening woes due to the Fed purchasing of MBS’s. In headline news, GDP came in stronger than expected, causing the Stock markets to rally and the mortgage bond markets to worsen initially. We are switching to a locking bias even though MBS’s have improved this morning. The reason is the stronger than expected economic news and now that the Fed has purchased, the remainder of the day we suspect MBS’s will slip worse, which is normal for Friday’s. Have a great day and enjoyable holiday filled weekend!
30 year fixed rate: 4.250% with 4.334% APR.
20 year fixed rate: 4.125% with 4.256% APR.
15 year fixed rate: 3.250% with 3.395% APR.
10 year fixed rate: 3.125% with 3.415% 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