Rate Update January 16, 2009

Fixed mortgage rates are slightly higher this morning.  

 Mortgage Bonds are currently trading down 16 basis points but better than the earlier drop off at the start of the trading day.

 An update released yesterday revealed that the Fed bough $23B of Mortgage Backed Securities between Jan. 8th and Jan 14th.  This added demand help buoy bonds at the level they remained for the week and hopefully can keep bonds at high levels in the coming weeks/months.

 Outlook: Cautiously Floating

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.