Rate Update December 11, 2008
Interest rates are slightly lower than yesterday as they parallel rates with the best levels of 2008.
Yesterday we saw a nice rally in the bond market which helped rates out with a mid-day price change for the better. Prices now are even to what we saw in early 2008 and are currently the best I have seen rates in the past 4 years. We are at an important crossroads right now as bonds have stalled at these highest levels of the year. It is tempting to want to float an interest rate lock now to see if bonds can break through and push rates even lower…however, we still think that it is a great time to lock and take advantage of these great rates. From past experiences of rates dropping this low, we know that things can change at any time so we are ready to alert clients to LOCK at a moments notice.
Current Outlook: neutral but ready to lock short-term