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Interest Rate News

February 21st, 2014

February 21, 2014; 9:41am

Good morning!

Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Flat

Interest rate recommendation:  Cautious float

Mortgage bonds (MBS’s) are currently flat, they were worse earlier this morning while getting pressure from a rallying stock market. Interest rates remained the same as yesterday.  Existing Home Sales decline by 5.1% from December to January.  The National Association of Realtors cites the decline due to extended winter weather conditions, tightened lending, higher interest rates, limited inventory and higher prices.  We have changed to a cautious float recommendation due to improving MBS’s in the last hour.  We hope today’s trend continues to improve, be ready to lock if it doesn’t.  Have a nice day and wonderful weekend!