Middle East, T-Bill Sale, and Stock Market Boosting Bonds Influencing Today’s Mortgage Rates

September 21, 2009

Daily Mortgage Updates

A&N Mortgage Logo21 September 2009 ? Today the bond market opened up 16 bps and we are currently up 22 bps. Stocks are down 50 points, which is giving the bond market a lift today. Further weighing on stocks is the increasing tension in the Middle East. If fighting were to break out between Israel and Iran, stocks may lose some ground as investors seek the ?safety? of bonds. This week will also bring record size Treasury auctions beginning on Tuesday afternoon. $112 billion will be auctioned off, 2-, 5- and 7-year notes. Buying for these auctions will be closely watched to see the demand for Treasuries. The 30-year rate is at 4.875% (APR 4.909) and the 15-year rate is at 4.375% (APR 4.433).

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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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