Posts Tagged ‘bond markets’

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We wake up today with a new president and new direction for the future and regardless of your party affiliation, the excitement in the air is palpable. 

All of the hoopla over our new comander in chief got me thinking, if much of the economy is actually based on the perception of the citizens within that economy, is it possible that the excitement of the new administration will turn into a boost for consumer sentiment and the economy as a whole.  It will be months before that theory is proven even if it is true, but it makes for interesting dinner conversation.

Mortgage bonds remain in positive territory today bouncing off of support levels near the 25 day moving average.  There is no economic news due out today, so the bond markets will likely get their cue from stocks.

Mortgage Bond 6 month history










Today also marks the beginning of Senate confirmation hearings for Treasury Secretary nominee Timothy Geithner.  Given his problems in the past with paying his taxes, I find it ironic that he may actually be the new head of the IRS.

Mortgage bonds are hovering very near levels that would indicate it has been oversold recently which could mean a run up soon.  If this happens, be prepared to lock in your rate on a rally.  For today, we will continue to float and watch.


If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.

Rates as of 9:10 AM 1/21/2009

30 Yr Fixed Mtg 4.875%
15 Yr Fixed Mtg 4.625%
30 Yr FHA 5.000%
30 Yr VA 5.000%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile and property type. Rates are subject to change without notice. All rates also assume a 1% origination fee. Loans with no origination fee and no points may be available.



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