This is a very important market update for everyone in the process of or is thinking about refinancing. Today’s mortgage interest rates WILL be going up. The 10-year bond is already up to 3.80 today following this morning’s unexpectedly positive jobless claims report and the resilience of durable goods. I am expecting numerous pricing changes and big interest rate increases as well today, so if you have not locked into a rate yet I recommend that you do. If you have already locked your loan, you are safe from these changes.
I will do my best to bring you up to date news about the market every week and hope that if you have any questions you will give me call or send me an e-mail.
On another note, the new home sales report this morning indicated that home sales are at their lowest level since 1990. This may ease how quickly mortgage rates will increase today, but currently it seems like a certainty
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