Rate Update March 12, 2008

Mortgage-backed bonds managed to rally yesterday afternoon bouncing off the 200-day moving average (blue line). This is good news for interest rates. The 30 year fixed rate is still hovering @ 6.125% but we may see that drop to 6.00% as more investors issue their morning rate sheets.

Watch today’s you tube video for a brief tutorial on how to interpret these charts…..

Current Outlook: neutral with a floating bias

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.