Rate Update May 13, 2009

Fixed Mortgage Rates are even with yesterday.

Mortgage Backed Bonds have enjoyed a rally of about 100 basis points over the last three days and seem to be at about the highest levels they can get to without another a major breakthrough.  The past two times bonds have reached the current level, they have backed off considerably and Mortgage rates have suffered.  Now would be a good time to lock in on any short term transactions.

Current Outlook: Locking on short term transactions

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.