Mortgage Rates Report: March 6, 2008
by: Brian.Brady on March 06, 2008 07:26:30 2 comments »
Mortgage rates skyrocketed this week and are .5% higher than Monday. Two things have driven mortgage rates higher:
1- The threat of inflation is omnipresent in every economic report.
2- Two mortgage companies defaulted on their lines of credit.
Remember when I talked about how important it is to use a mortgage planner who subscribes to real-time MBS pricing?
Why am I so adamant about the fact that the ten-year treasury note is not the determining factor of mortgage rates? The statement is factually incorrect. While the two securities often move in concert, polarity can occur and sometimes does; this is one of those times. The ten-year T-note is considered the benchmark, not bellwether fixed-income security. This means that all other securities are compared to the 10-year T-note (we call that the
· http://www.neworleanscondostrends.comRates will fall in the near term,its a guess as will the commidity bubble bursts which should get us closer to the bottom unless Congress wants to add something else to the mess. What are you guys going to do about the budget shortfall in Calif., tax more people.
Permalink March 07, 2008 17:20:15 · http://www.curriproperties.netFor those who locked into last weeks rates before this update good job and just under the wire. This the bottom that many have looked for and have they waited a little to long. Overall not at all but to be exact yes. Here is to seeing everyone who wants and can afford a home and gets approved on lending process finds a great deal and house.
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