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| - Increased talk of Fannie Freddie bailout, Fed on inflation and supply issues all weigh on Bond prices. - The Dow moves into the black. Oil drops alomost $5 to $126 down from $147.27 achieved on 7/11. Today's Interest Rates Conforming 40 yr Fixed------ 7.125% Conforming 30 yr Fixed-------6.875% Conforming 20 yr Fixed-------6.875% Conforming 15 yr Fixed-------6.500% FHA 30 yr Fixed------------------6.875% VA 30 yr Fixed--------------------6.875% FHA Jumbo-----------------------7.000% - Reverse Mortgage for those 62 years or older-----Fixed HECM 6.85% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News for today Mortgage Bonds are trading lower this morning in response to Philadelphia Fed President, Charles Plosser, who said "inflation is too high". As you know Mortgage Bonds hate inflation, but Mr. Plosser also stated that the Fed must "back up their words with action" and hike rates. Technically, Mortgage Bonds are starting the day to the downside and are between resistance and support. I will keep an eye on it and advise you accordingly. For now my advise is to lock. Today's Quote You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you. Dale Carnegie |
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