Rate Update September 15, 2010
Mortgage rates are better and worse this morning (ARM’s improved in pricing while FHA fixed rates worsened).
Despite steadily improving economic data issued over the past week and a half gold has hit an all-time high. Gold is another source of “safety” for investors seeking a “flight-to-quality” trade.
Unfortunately interest rates have not benefitted as much. Both the 10-year Treasury note and mortgage-backed bonds (MBS’s) are trading up against technical resistance.
Tomorrow and Friday will feature significant economic data including the jobless claims, Producer Price Index, and the Consumer Price Index.
Current outlook: neutral with locking bias
Posted: September 15th, 2010 under Rate Update.
Tags: mortgage rates sept 15 2010, outlook for rates sept 15 2010, sept 15 2010 mortgage rate outlook, sept 15 2010 mortgage rates