Rate Update November 30, 2010
Mortgage rates are priced better today.
The market’s attention remains focused on the European debt crisis. Investors are not convinced that the EU bailout of Irish debt will solve the problems. As a result, interest rates here in the US have benefited from a flight to safety.
Lower rates may be short lived however. With the exception of housing data from this morning’s Case-Shiller home price index, most all of the economic data was better than analysts had expected. This includes consumer confidence and Chicago-area manufacturing data. Overall economic conditions appear to be slowly improving which doesn’t bode well for interest rates.
The long-term trend continues to suggest locking and I am going to recommend locking in gains earned over the past couple days.
Current outlook: locking
Posted: November 30th, 2010 under Rate Update.
Tags: nov 30 2010 MBS, nov 30 2010 mortgage rates, nov 30 2010 outlook for rates