Rate Update for August 26, 2008

Mortgage rates are essentially unchanged today.

Worse than expected economic news out of Europe is helping the US dollar rally versus other currencies right now.  A stronger US dollar has an anti-inflationary impact because it effectively makes the foreign imports we purchase less expensive.

From a technical standpoint mortgage-backed bonds are trading in between the 50 & 100-day moving averages.  We remain in a floating position but will have to watch the bond market closely over the next few days.

Current Outlook: floating bias

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.