January 8th, 2014
Good morning & Happy New Year!
Interest rate trends: Today – Higher; 10 days – Flat; 25 days – Slightly higher
Interest rate recommendation: Locking
MBS’s worsen this morning on the ADP employment report showing a higher than expected employment number. This is a slight indicator that Friday’s really important Jobs Report may be better than expected too and if so, we are recommending locking. Today we will see the Fed minutes from December’s meeting, perhaps more insite on their tapering plans. The new chief of FHFA (Mr Watts) has officially delayed the implementation additional G-fees scheduled for April 2014. This would have caused interest rates to increase by .25% or ¼% easily. We are happy with this move. Yesterday we did break through the 2nd layer of resistance that we had hoped for, but with today’s better than expected ADP report, MBS’s dropped back down below. MBS’s although started out the morning worse due to the report, they have improved since and are currently moving sideways. We maintain our locking bias before the Job’s report on Friday. 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