Rate Update June 9, 2008

Posted on by Evan in Rate Update

Mortgage rates are unchanged this morning.

A continuation of concerns surrounding inflation is dominating the headlines this morning (and over the weekend). For a review on how inflation impacts mortgage rates please refer to this blog posting.oil prices would reach $150/ barrel this summer. On Sunday the average price for a gallon of gasoline in the US reached $4. Some analysts think gas prices will reach $5.75 in the next 24 months.

Earlier today a Goldman Sachs analysts predicted that

We continue to favor a locking position in the long-run as inflation pressures will likely push mortgage rates higher.
Current Outlook: locking

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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.