January 28th Market Update - 01/28/09 02:11 PM
Good Afternoon,
There was a little financial drama today and that is leaving rates bouncing up and down. The Federal Reserve announced that the key interest rate will remain at 0%. This led to a quick sell off of Mortgage Backed Securities and brought rates back up to 5.125% as of 30 minutes ago. Since then, the trend has reversed and rates are back down to the levels we saw released this morning.
From what we are seeing going forward, our assumptions are that rates will stay at or near this level for quite sometime. I am skeptical that we will … (0 comments)

January 14th Market Update - 01/14/09 10:40 AM
Good Morning,
Over the past week, there have not been any major changes or economic reports that have had any dramatic effect on interest rates. Although the hope throughout the industry is to have rates trend lower over the coming month, I am still amazed at seeing them stay this low for this long. This is mainly due to the Governments promise to purchase mortgage backed securities (which most directly coincide with the direction interest rates take).
So, does this mean a borrower should lock or wait? It depends on many factors, but I urge my clients to look at both … (0 comments)