Rate Update March 25, 2008

Weak economic data as well as technical support has helped stabilize mortgage rates this morning following yesterday’s increase.

Among the weak economic news was the Conference Board’s Consumer Confidence index which showed that consumers are less confident that previously thought. Furthermore, the S & P Cash-Shiller Home Price Index report showed price declines in all the 20 metropolitan markets that it follows including Portland & Seattle.

Watch today’s you tube video to better understand what technical trading patterns are in play……..

Current Outlook: neutral with a bias towards 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.