I am sure that we all have seen Rocky.  You know the movies with Stallone.  Where the main character is a flawed but very human guy that boxes.  In the movies, he gives a beating, takes a beating then comes back to win. 

Well, welcome to the mortgage backed bond market this week, but this story does not seem to have a happy ending.  We got down early in the week, and it was a short trading week at that.  We kept getting knocked down and we would stumble a little then back down.  Well, it seemed like we were going to bounce back today, but alas poor Horatio.  I knew him well.

We are have fallen back to our worst levels of the day.  We are not done, yet, but I am locking all loan for next week.  We just cannot take the risk these days.  I do expect that we will have a good summer as rates ae still at historical lows.  Especially, if you are Indiana's FHA Guru where service and rates are at their all time best. 

If you have any questions please do not hesitate to give me a call at (219)872-8000 ext 106.

Dave Woodson

Northwest Indiana's #1 Mortgage Consultant