What another great week for Mortgage Rates!
What another great week for Mortgage Rates! It was not without the wild ride we have all become accustomed to. There were multiple days this week where the mortgage market was knee deep in a puddle of red only to end up well into the black! Since the day before Halloween (this quarters low point for mortgage bond prices and this quarters high point for mortgage interest rates), Mortgage Backed Securities have rallied 503 basis points! That is HUGE and is exactly why interest rates have plummeted to the 5 to 5.5% range!
Taking an educated guess I expect that Mortgage rates will remain in the current range at least into early 2009. As we have all learned in this market, things can change quickly, so please stay tuned!
Please let me know if you need any help over the weekend, our team is available.
Thank you!
Your Trusted Advisor,
Jeremy House, C.M.P.S.
