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Good Morning Everyone Mortgage bonds move higher after mixed data. Stocks open lower giving an additional boost to Bonds. Today's Interest Rates Conforming 40 yr Fixed------ 6.875% Conforming 30 yr Fixed-------6.750% Conforming 20 yr Fixed-------6.750% Conforming 15 yr Fixed-------6.375% FHA 30 yr Fixed------------------6.625% VA 30 yr Fixed--------------------6.625% FHA Jumbo-----------------------6.875% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.45% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News for today Mortgage Bonds are trading a little higher so far this morning after poor earnings reports were announced for Macy’s and farm equipment maker Deere & Co. Those reports have pushed Stocks lower and helped Bonds hold onto their gains from yesterday. In other news, Retail Sales were reported in line with expectations, but Import Prices came in higher. This is a bit of a concern. However, if oil prices continue to decline, next month’s report should look better. Currently, Mortgage Bonds sit midway between a level of support and resistance. Therefore, I recommend floating for now. But things can change quickly, so I will keep a close eye on the market. Today's Quote Rumor travels faster, but it don't stay put as long as truth. Will Rogers (1879 - 1935), |
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