Mortgage Rates Predictions  

The Fannie Mae Bond is +35bp on the day @ 100.16.  The 200 day moving average held up.  Initial Jobless claims, Empire State Index, Capacity Utilization, and Industrial Production all reported worse than expected results.  The Philadelphia Fed Index was better than predicted, but still bad.  With the recent talk of inflation concerns, the stock market will not be counting on any more stimuli from Fed Rate Cuts.  When we receive weak economic news investors hopefully will get back to considering Mortgage Backed Securities as low risk safe investments… bring Mortgage Rates Down!  We should see continued improvement in rates today.

Conforming No Points & 1%

30 Fixed  6.000% | 5.750%

15 Fixed 5.750% | 5.375%

7/1 Arm 5.875% | 5.375%

5/1 Arm 5.625% | 5.125%

3/1 Arm 6.125% | 5.000%

30 Fixed FHA 6.125%

15 Fixed FHA 6.250%

Jumbo No Points & 1%

30 Fixed N/A | 7.125%

15 Fixed 7.000% | 6.375%

7/1 Arm 6.875% | 6.375%

5/1 Arm 6.750% | 6.125%

3/1 Arm 6.500% | 5.750%

1/1 Arm n/a | 5.125%