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Good Morning Everyone Oil reverses course and trades negative after the bigger draw in crude inventories rose by the largest amount since early 2001. Stocks move to positive territory. Mortgage bonds continue to trade above the 50 day Moving Average after blasting through the 50 day average earlier this morning. Today's Interest Rates Conforming 40 yr Fixed------ 6.875% Conforming 30 yr Fixed-------6.500% Conforming 20 yr Fixed-------6.500% Conforming 15 yr Fixed-------6.125% FHA 30 yr Fixed------------------6.500% VA 30 yr Fixed--------------------6.500% FHA Jumbo-----------------------6.750% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.06% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News for today Mortgage Bonds were finally able to poke above the tough ceiling of resistance this morning that they have been battling for three days. In other news, the national average for a gallon of gasoline fell last week to $3.77. But it may not be for long, as oil prices have already climbed back up above $116 a barrel. Currently, Bonds are sitting good, but are down slightly from their best levels. I recommend floating for now to see if they can make any more gains. But be ready to lock if the situation changes. After all, the Bond has only closed above this ceiling of resistance twice in the past three months, so it may not hold Today's Quote It is better to look ahead and prepare than to look back and regret. Jackie Joyner-Kersee (1962 - ) |
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