producer price index

The Producer Price Index (PPI) came out and reflected virtually no inflation on the wholesale side of things.

This would normally be a strong indicator for upward activity in mortgage bonds, but so far today that has not been the case as bonds continue to trade sideways and slightly down. The Consumer Price Index (CPI) is due out tomorrow which will reflect the price difference as it is passed from wholesale suppliers to consumers (a more widely used indicator of inflationary pressure). The outcome of this report will likely have a significant affect on the markets. I would say that today is a good day to float your rate and see what happens tomorrow to lock ahead of the weekend. If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime. Rates as of 11:10 AM 1/15/2009

Steve Russell Mortgage Banker Primary Residential Mortgage 850-221-8334 Cell 850-497-6325 Office Steve@steverussellonline.com www.SteveRussellOnline.com * 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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