Rate Update March 10, 2009

Fixed Mortgage Rates are even with yesterday.

Mortgage Backed Bonds continue to trade between the 25-day and 50-day moving average.  While bonds continue to trade in this range we can continue to float and hope to capture a rate on a day where bonds are at the high end of the range.  If the stock market sees any type of a rally, which I think we would all welcome about right now, this could put some selling pressure on Bonds.  If Mortgage backed bonds does break below the 25-day moving average, it will definitely be time to lock something in.

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.