Important Rate Update and Baby News!

They are falling!! Mortgage rates continued to fall through the close of business today. Typical 30 year fixed mortgage rates are currently at 4.75%-4.875% with 0% origination for a 30 year fixed. (depending on credit, product type and purchase type).

I want to go geek on you for a minute just to give a visual. The chart below shows 14 continuous trading days of increased bond prices (green ticks) which corresponds directly to a decrease in mortgage rates. This is mostly a result of meager economic news and weak jobs data. More importantly we popped above an overhead layer of resistance (the blue line) which may help support and encourage lower rates. I am locking clients in now while bonds are overbought. The icing on the cake is PrimeLending’s float down lock which helps me make sure my clients win regardless of what the market does.

In other news! My wife Kim and I found out that baby #2 is officially on the way!!! Kim is hoping that the 2 pink lines on the test translate to pink dresses and shoes this time around . Either way we are blessed and Andrew is going to be a big brother!!

Please let me know if you have any questions or if there is anything I can assist you with. Thank you!

 

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