Conventional Mortgage Rates Seeing Some Pressure Today

April 21, 2009

Daily Mortgage Updates

A&N Mortgage Logo21 April 2009 – Mortgage bonds, an indicator of mortgage interest rates, opened favorably this morning; however, recent comments by Treasury Secretary Timothy Geithner that the market seems to be stabilizing, coupled with favorable reports from Standard & Poor’s indicating that home builders are starting to see some positive momentum, have turned the mortgage markets against us. Our opinion is if you are not in a rush, float; if however, you have a definite deadline and need to close your loan, I would consider a loan locking position today. Over the past four months, the 30 year fixed conventional interest rate has held stable within a range of 5.25% and 4.75%. We see no definite indication that the economy has improved to a point where rates will increase significantly from the range we’ve seen thus far. Today, conventional mortgage interest rates are seeing some pressure.

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About Alicia Hyland

Alicia has over 20 years experience in the financial sector including tax, accounting, financial analysis and mortgage loan origination. She enjoys working with new housing developments and first time home buyers. She subscribes to several financial services such as Mortgage Market Guide, My Loan Biz, Wall Street Online to name a few to stay current on matters affecting the housing industry.

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