So what’s happening in the markets today? A couple of things:
- The Treasury auction yesterday afternoon went pretty well.
- Retails sales reports that came in this morning came in down.
- Unemployment claims numbers came in mixed. The new claims for the week came in down but the continued claims came in higher.
So the bond market is a little better than we were yesterday morning.
I’m going to sound like a broken record, but I still recommend locking all loans. With two more big Treasury auctions coming this week yet and a lot of unknowns in the economic reports due out (mainly earnings reports), the upside risk is greater than the downside potential.
I’ll continue to keep you informed.
Tom Vanderwell
Here’s a sampling of the rates I’m quoting today:
Purchase, owner occupied, $325,000 sales price, 20% down, 30 year fixed, 30 day lock, 5.0% with .25 pts or 4.75 with 1 pt.
Purchase, investment property, $150,000 sales price, 25% down, 30 year fixed, 30 day lock, 5.875% with .5 pts
Purchase, owner occupied, $110,000 sales price, 3.5% down FHA 30 year fixed, 30 day lock, 5.125% with 1 pt or 5.375 with 0 pts.
All APRs available upon request.