January 6th, 2014
Good morning & Happy New Year!
Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Slightly higher
Interest rate recommendation: Cautious float
MBS’s are slightly better this morning, helping interest rates. Technically, MBS’s are above Resistance level 1, where they have been bouncing around for nearly two weeks, but unable to close above. This week we will get to see the Fed minutes from their December 18th meeting and on Friday we’ll get Decembers Job Report. Both are market movers, but not a lot of other economic news scheduled for this week. The U.S. Treasury will auction $64 billion in debt, which can affect MBS trading as the added supply of investment opportunity creates more competition for MBS’s. We continue our cautious float recommendation while MBS’s improve. Have a great day!
Have a great day and happy New Year!
30 year fixed rate: 4.250% with 4.331% APR.
20 year fixed rate: 4.125% with 4.251% APR.
15 year fixed rate: 3.250% with 3.390% APR.
10 year fixed rate: 3.125% with 3.381% APR.
Use the link below to see all our posted interest rates:
Please visit http://www.galmc.com 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, NMLS#4493
Spencer Packer – Colorado & Utah, NMLS#363407
McKay Platt – NMLS#428479