Today’s Mortgage Rates in the Low 5’s Despite Bond Drop

July 29, 2009

Daily Mortgage Updates

A&N Mortgage Logo29 July 2009 – Today the bonds opened up 29 bps. However by noon the bonds were up 12, which is a decrease of 9bps. By 12:15 the volatility hit that I discussed in yesterday’s update and the bonds are now down 10, which is a 31 bps drop for the day. This auction results from the Treasury were very poor, which is pressuring the bonds. This morning the weak durable order report signaled that the US economy is not out of the woods and the recovery from this recession will take time. Mortgage interest rates have risen over the past 6 months, mirroring the rallying stock market. However rates are still very good and in the low 5?s for the 30-year fixed rate and in the mid 4?s for the 15 year fixed rate.

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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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