Mortgage Update

There is a raft of economic data this week, as well as an aftermath from the President’s town hall meeting this afternoon. Right after the meeting, the stock market moved upward, and rates dropped enough to signal afternoon slight rate improvements.  It also isn’t expected that short-term rates will be changed by the Federal Reserve tomorrow.  Rates are expected to remain low in the short-term, although there was a slight bounce upwards for the conforming market.  Our strategy is to suggest that a borrower lock early, then take advantage of a potential float-down of the rate – should rates improve. 

Ginger Sullivan, Anasazi Mortgage