Rate Update April 28, 2009

Fixed Mortgage Rates have improved from yesterday.

Mortgage Backed Bonds are trading off their early morning highs after rallying big yesterday.  Bonds were able to break through the 25 day moving average and are now trading far above that level.  Bonds have run into a bit of resistance this morning and it looks like it will be tough to break through and move higher in the coming days.  This could prove to be a great time to lock in an interest rate while bonds are trading near the top of a trading range that saw it’s peak back on Mid March.

Current Outlook: Locking

The views and opinions expressed in this site are those of the author(s) and do not necessarily reflect the official policy or position of Cherry Creek Mortgage Co., Inc. This is for informational purposes only. This is not a commitment to lend.