Rates will be moving higher – When?
Will you miss the train as it leaves the station?
Have you wondered: When will this gift of low interest rates end?
At North Atlantic Mortgage we never miss a major market move.
We use our resources to gain insight into the markets so we can offer the best advise on the mortgage market to our clients.
The market is positioned for mortgage rates to move higher. It’s not if they move higher but WHEN.
We employ analysts that not only chart the markets, but read the future of the markets by using fundamentals and technical analysis, so we can inform you before the markets turn.
Mortgage rates have been low for a while. Don’t sit at the casino table too long. Rates won’t go much lower than they are right now – but they have plenty of room to move a lot higher. Right now the odds are in your favor. Don’t get greedy. Know when lock in and be a winner.
Mortgage Bonds have been holding up well, just under a ceiling of resistance at 101.47.
Our Alert to lock on Wednesday morning was timely as Mortgage Bonds lost 38 basis points in value that afternoon and banks re priced mortgage rates .125% to .25% higher.
Remember Lower Bond prices mean Higher mortgage rates.
On Thursday, the wall Street Journal stated that “fears of a double dip recession are exaggerated”. I wonder how they know?
The Treasury Department announced the size of next weeks auction’s to be about $69B. This is the lowest offering in a year and is partially responsible for Mortgage Bonds holding on to their nose bleed levels.
We recommend locking into rates as bond prices are at historic levels.
Current Price of FNMA 4.00% Bond: 101.47 +6BP
*Requires a maximum 80% Loan to Value with a Maximum loan amount of $729,000.