Mortgage Rates Outlook for Week 5/7-5/11/12

By
Mortgage and Lending with US Mortgages - David Shamansky NMLS#392126

Mortgage Rates Outlook for Week of 5/7-5/11/12

Should be an interesting week ahead.

The FNMA bond did in fact just break through the proverbial glass ceiling of late at 104 and closed on Friday at 104.03. While I am happy to see this index hit and pass through the 104 mark I am not completely convinced with its very small level passed this benchmark that there is a solid foundation to call this the next level to build or fall from.

Pricing is fantastic right now and my advice is you have a lot more to loose than you do to gain from floating right now.

If closing a loan within the next 30 days I say LOCK

If not closing for over 30 days you are likely OK to float but watch cautiously as if we open tomorrow with a lot of downward pressure we could see an easy 50 bps sell off while the current administration is going to push to see equities make further gains. While it has not always been this way as of the last several years the DOW and the FNMA bonds almost consistently move in opposite directions.

Do yourself a favor and GO BUY A HOUSE!

Its great inflation protection as well as something that is in the critical 3 for food clothing and shelter.

Combine todays rates with current housing prices and this is possibly the best time in the last 15 years to be in the market!

us mortgages colorado mortgage leader

 

Posted by

araward

Colorado 1st Time buyers, if you are ready to stop renting, get the many benefits from home ownership, or maybe your a current homeowner looking to move up or maybe looking into what it takes to become an investor in this incredible market, that WILL create millionaires, and you are looking for a strategy, answers and direction, please feel free to call or email me. My 22yrs in mortgage lending and 30+ years in finance gives me an in depth knowledge, critical to helping others and making their dreams go from dream to reality!

David Shamansky
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"

US Mortgages
6855 S Havana St Ste 520
Centennial CO 80112
720-524-8020
NMLS#392126
Equal Housing Lender

*photos used may come from my personal pictures or www.freedigitalphotos.net

 

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