January 9th, 2014
Good morning & Happy New Year!
Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Slightly higher
Interest rate recommendation: Locking
MBS’s are moving sideways this morning while investors wait for the big Jobs Report tomorrow morning. The Fed minutes yesterday did not reveal anything different than expected so not much movement to the markets. In listening to top market analysts (economists), and looking at so many of their graphs on the economy, it is evident the economy is moving forward and improving. There are more signs of improvement within all the indices than not. So there is no question, with all things being equal, interest rates will rise this year, ending the year higher than they are now. It is anticipated mortgage interest rates will be up to 5.00% by year end. The Fed will continue to try and hold rates low, so we don’t expect much movement higher over the next few months, but a gradual increase is most likely. We are locking into tomorrows Jobs Report. Have a great day!
Have a great day and happy New Year!
30 year fixed rate: 4.250% with 4.342% APR.
20 year fixed rate: 4.125% with 4.281% APR.
15 year fixed rate: 3.250% with 3.390% APR.
10 year fixed rate: 3.250% with 3.373% 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