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| Mortgage Bonds open higher on disappointing earning news from Wal-Mart and
AIG. Initial Jobless Claims come in worse than expected Today's Interest Rates Conforming 40 yr Fixed------ 7.000% Conforming 30 yr Fixed-------6.750% Conforming 20 yr Fixed-------6.750% Conforming 15 yr Fixed-------6.375% FHA 30 yr Fixed------------------6.750% VA 30 yr Fixed--------------------6.750% FHA Jumbo-----------------------6.875% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.60% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News for today Mortgage Bonds are trading slightly higher this morning, after the Initial Jobless Claims report came in far worse than expected. Also helping Bonds was Wal-Mart’s announcement that sales are expected to slow in August. This morning's poor earnings report for Freddie Mac, however, has prevented Bonds from making an even better improvement. Later today, the Treasury will auction off $10 Billion in 30-year Bonds, which may impact prices this afternoon. For now, I recommend floating your interest rate to see how the market reacts. I will let you know if a change of course is needed. Today's Quote The human brain starts working the moment you are born and never stops until you stand up to speak in public. George Jessel |
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