Rate Update June 18, 2008

Mortgage rates improved by .125% yesterday afternoon because of technical trading patterns that we had identified in yesterday’s rate update.

Today there are two factors which we think provide a favorable outlook for mortgage rates in the near-term. Watch today’s you tube video for an explanation.

The stock market is trading lower this morning in response to weak outlooks from a couple major corporations. Read this link to get an understanding of how the stock market can impact mortgage rates.

From a technical standpoint mortgage-backed bonds look like they’ll continue to rally off their lows. Watch today’s you tube video to see how high we think they’ll go.

Current 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.