Best 30 Year Fixed PAR Rate: 5.625%

Lock Recommendation: Cautious Float


A lot of economic released today, but none of it earth-shattering.  Mortgages rates are finding slight support from what is generally perceived to be a weakening market.  The DOW is currently struggling to hold it's gains from yesterday.  Unemployment report was up slightly, and new home sales are down.  On a positive note, the GDP came in as expected and Home prices came in slightly higher than expected.  That home price information should be tempered by the fact that the estimate was a sharp downward revision, so it's not as encouraging as the market would home.

An oil fire in MN has sent oil prices slightly higher, and although this does not directly affect mortgage rates, the general sentiment is uneasy when it comes to the markets.  When this happens, traders seek more conservative investments such as bonds.  This raises the price on bonds and drops the rates.  

The 10 year note today is slightly improved down to 3.94.  Despite that, Mortgage-Backed-Securities are relatively flat.

Most lenders has roughly a .125% improvement to discount point today.


**A PAR rate will often include a nominal amount of points and fees.  Lock timeframe and qualifications will always impact interest rate and APR.