This mornings bond market opens down 8/32 which is expected to push mortgage rates higher aproximately .125 to .250 higher than Wednesday's revised rates. For the buyer this should translate to a rise of .500 of a discount point Wednesday morning's rates.
With forth the quarter GDP report due out tomorrow most analysts are expecting a significant drop of 5.4% which will be the largest drop in 26 years.
So here's the botttom line: For buyers expecting to close a loan within the next 7 days it may be wise to go ahead and lock your rate. if you are planning to close a loan more the 8 days out consider floating the rate.
Seller Resources | Avoiding Foreclosure | Home Sellers Toolkit | Home Buyer Checklist | Home | Free Home Search | Buying Foreclosures | Home Sales Blog
Copyright © 2009 Cobalt Premier PropertiesPortions Copyright © 2009 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.
