Rate Update June 18, 2009

Fixed Mortgage Rates are up from yesterday.

Mortgage Backed Bond prices took a turn for the worse yesterday afternoon and have again started significantly lower this morning.   During this reversal, bonds have plummeted below the 25 day moving average and are currently moving past the 200 day moving average as I type this update.  Furthermore, the Treasury has just announced that $104 Billion in notes will be included in next weeks auction…this is not good news for bonds in the coming week and it will be important to lock in before things get much worse.

Current Outlook: Locking

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.