Mortgage Market Memo
Posted March 08, 2010
Mortgage Bonds have been very resilient of late, being able to bounce back higher from the lows of the session. We will start the day by Floating, but be mindful that should Stocks gain more momentum at the expense of Bonds - you will be hearing from us with an Alert to Lock.
Fannie Mae Mortgage backed securities are even on the day, leading towards stable interest rates for today and tomorrow.
15 year fixed interest rates are now as low as 4.250% with -0- points, while 20 and 30 year fixed interest rates are as low as 4.750% and 5.000% respectively.
5/1 and 7/1 ARM rates are still very attractive and are now as low as 3.625% with -0- points and 4.000% with -0- points respectively.
Interest rates for jumbo loan programs remain very attractive at 3.875% for a 5/1 ARM, 4.375% for a 7/1 ARM, and 5.250% for a 10/1 ARM, all with -0- points.
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