Rate Update March 20, 2009

Fixed Mortgage Rates are even with Friday.

Mortgage Backed Bonds are trading sideways on the day even with stocks getting slammed today. As Mortgage Bonds near the highest levels they have ever been, it doesn’t look like lenders are too quick to decrease rates. This may mean that it could be a good time to lock, if we don’t see rates improve in the next day or so.

Current Outlook: possibly leaning towards locking soon

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.