Rate Update December 30, 2008
Fixed mortgage rates are slightly higher than yesterday.
The Stock market likes the news of GMAC receiving a $6 Billion dollar lifeline from the US Treasury today. This uptick in the stock market is pressuring bond lower in early trading which is taking away from the lift we saw yesterday morning in the bond market. Read this blog entry to find out why the stock market is pulling money away from bonds.
Current outlook: locking in the short term, floating for future transactions
Posted: December 30th, 2008 under Rate Update.