Rate Update May 2, 2008

Every once in a while we get it right and yesterday we certainly called the right play on the monthly jobs report strategy. Although the report showed a 25,000 job contraction in April it was still enough to beat analysts’ expectations which were calling for 75,000.

As a result mortgage rates have moved higher. The second half of our prediction was that mortgage rates over the next 2-3 weeks would rally back pushing rates back to or even lower than they were mid-week.

Current Outlook: locking in near-term, floating long-term

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.