Rates are up slightly for this week, 2/8/2011

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Mortgage and Lending with Jumbo,FHA,VA,RD,Jumbo,FHA,VA,RD,FHA

The stock market surged last week on better economic news.  However, bonds didn't do so well.  

Unfortunately, there is not much economic news coming out this week that will effect much change. 

Ben Bernanke testfies with the House Budget Commitee late Wednesday.  He is only expected to speak about employment, U S dollar and the nation's debt ceiling.  I'm not sure if this will have any effect on rates, as housing isn't likely to be discussed.  However, since the trend is upward, I would not wait to lock in a rate. 

There are still worries about Egypt and the effect their revolution will have on other Middle Eastern nations.  Things have been mostly peaceful in Egypt since last Friday.  However, this could change as well.  Instibility there would probably bring rates down.

Again, the trend hasn't been downward.  I would say to lock in,  as of now. 

  

 

 

 

Comments (1)

Chris Miller Nevada Land with Water Rights
Vegas Grand Realty and Property Management - Mesquite, NV
Land with Water Rights For Sale

10 basis points up on the ten year today, I think you missed the lock call by a week, but now is likely going to be better than waiting, a little scary.

Feb 08, 2011 07:59 AM