Rate Update December 4, 2008

One of our investor’s came out extremely low on their interest rates today despite an unchanged bond market.

All eyes are focused on tomorrow’s employment report.  To understand the importance of this monthly report on mortgage rates we’d encourage you to review this link.

Mortgage rates typically react to whether or not the number of jobs created/ lost hits expectations.  Going into tomorrow expectations are EXTREMELY LOW.  That means it will take a very bad number in order for this report to be a catalyst for mortgage rates to move lower.

Given that mortgage rates have dipped here with the one investor we work with it might be a great time to lock.

Current outlook: neutral ahead of tomorrow’s jobs report

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.