Today’s Mortgage Rates Are Creeping Up

July 30, 2009

Daily Mortgage Updates

A&N Mortgage Logo30 July 2009 ? Today the bonds opened down 6 bps and continued to slide and are currently (12:00 p.m.) down 22. The seven-year Treasury Note auction is today at 1:00 p.m EST and this may pressure bonds again. No auctions are scheduled next week, but we need to get through this week’s auctions for bonds to hopefully stabilize. The supply is too much for the market to absorb, which is pressuring mortgage rates. We are still in the low 5?s but creeping up slowly. The DOW is booming today?up 140, which is also pressuring the bonds.

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About Chris DePaepe

Chris is a lifelong Chicagoan who was born and raised on the Northwest side. She has a business degree from Rosary College in River Forest and a MBA in finance from DePaul University. She has been in the mortgage industry since July of 1996 and understands the importance of educating clients about the process of purchasing or refinancing a home. Chris?s education and customer service separates her from her competition, from taking an application at 11 p.m. to doing a closing in the convenience of your home, customer service is her #1 priority! With her extensive financial education she is able to pass along critical information to potential clients about mortgage interest and the differences between a 30, 25, 20 and 15 year loan. Chris will run every amortization chart and spend a great deal of time explaining the savings on your mortgage interest by showing actual examples. Also, most first time buyers do not understand the tax advantage of owning a home and she will break that down and show the actual tax advantage of owning a home versus renting. Chris prides herself on taking the time to fully educate every buyer so they are aware of the process from the beginning to the end without any surprises. Whether you are looking to refinance or purchase a home, understanding today?s market is extremely important to getting your loan approved. You can contact Chris 24/7 at chrisd@aandnmortgage.com, 773-305-7016, or 773-848-4144.

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