Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!
Wednesday’s bond market has opened well in negative territory following despite no relevant economic news being released. The stock markets are showing gains with the Dow up 48 points and the Nasdaq up 16 points. The bond market is currently down 16/32, which will likely push this morning’s mortgage rates higher by approximately .375 of a discount point.
There was no relevant economic data posted this morning, but this afternoon brings us the release of the Fed Beige Book. This 2:00 PM release details economic conditions throughout the U.S. by region. It is relied upon heavily by the Federal Reserve during their FOMC meetings when determining…
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©Mortgage Commentary 2009
* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com
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