We have had a somewhat flat week in the bond markets; just a little bit of movement up and down and 30 year mortgage rates are straddling the 4.000% mark. Depending on the day to day movement, clients may be able to catch a 3.875 rate with zero points, but we are still mainly at the 4.000% mark with zero points. 15 year rates are right around 3.250%. As mentioned from last week’s update, mortgage bonds are still sitting right on that 200 day resistance point and we will most likely continue to see rates in the low 4’s in the short run here.
As the holiday weekend sets in, there shouldn’t be too much movement as the markets will close early tomorrow and be closed all day on Monday. I will be in town all weekend and if you or any of your clients need anything, don’t hesitate to call.