Today’s Mortgage Rates: Bernanke Testifies to Senate, Jobless Figures Come Out Tomorrow

December 3, 2009

Daily Mortgage Updates

A&N Mortgage Logo3 December 2009 ? Mortgage Bonds opened the day down and have continued to trend lower to a day change of -25bps. Today has been a significant news day as Chairman Ben Bernanke of the Federal Reserve testified in front of a Senate committee considering his re-nomination. In other notable news, the monthly Jobs Report will be released tomorrow. Jobless claims have been estimated at around 457,000, far short of the 480,000 expected, but tomorrow will confirm whether those numbers are valid or not. While the downward trend of jobless claims is encouraging, most economists agree that the labor market is still contracting. In addition, labor productivity numbers showed an 8.1% increase in the 3Q ? certainly a positive for the economy as employers continue to get as much out of their existing workforce as possible. The stock market has been relatively flat as the dollar continues to struggle and investors attempt to make predictions on holiday retail sales. Friday, as always, will be an important day for the mortgage and stock markets due to the weekend. Mortgage rates are still strong with 4.750% (4.799% apr) on the 30 year and 4.25% (4.334% apr) on the 15 year.

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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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