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Tuesday, May 4, 2010

The Recipe For Mortgage Rates

Mortgage rates are the result of all financial data assimilated and boiled down to their essence.  Most importantly, the value of the dollar, the demand for our treasury bonds by investors including other countries, general economic conditions- usually good news drives rates up and vice versa, stability of the Euro (Greek crisis).  All of these underlying factors affect the price of mortgage backed securities off of which mortgage interst rates are determined.

Anyway, rates are still  DOWN due to the apparent "safe haven" status of the US bond market.  4.875% for a 30 year was seen today on most of our rate sheets with 15's in the mid-fours.

Cheers
Posted by Guy M. Petit-Clerc at 3:31 PM