January 16th, 2014
January 16, 2014; 9:53am
Good morning & Happy New Year!
Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat
Interest rate recommendation: Cautious float
Volatility is the name for the markets these last few days, today MBS’s are making good movement, currently at +29bps, as stocks retreat from their record highs set yesterday. In economic news, all reports came out positive for the economy and supporting interest rates was a tame inflation report. With inflation staying low, the Fed has less pressure to ease off of QE3. With MBS’s doing well this morning, we will cautiously float and see where this will take us. Interest rates look very nice today so it is a good time to get a new mortgage to purchase a new home or refinance a current one. Have a great day!