Rate Update for August 5, 2008

Mortgage rates are slightly higher this morning following an afternoon sell-off in the bond market yesterday.

The big news of the day today is that the Fed is scheduled to release their monetary policy statement at 2:15 EST.  In today’s you tube video I have summarized the Fed’s role in our economy as well as explained how their monetary policy statement can impact mortgage rates in the near term.

Current Outlook: neutral ahead of Fed meeting

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.