Rate Update July 15, 2009

Mortgage rates are higher again this morning.

Here is a summary of the story lines impacting mortgage rates:

*Intel provides an optimistic outlook for the 2nd half of 2009 lifting stock markets
*Is the economic contraction moderating?
*The Labor Department reported that consumer prices (as measured by CPI index) increased slightly higher than expected in June.
*What’s next? Fed minutes later today, Bank of America, Citigroup, and JP Morgan report over the next 2 days

Current Outlook: if you followed our advice last week you’re already locked, if you haven’t it’s probably a good idea to lock now unless you have 30-60 days to close your loan.

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.