grauteam | mortgage update 1.14.2008

Citigroup may have to write off another $24 Billion in sub-prime related losses!  This could put 20,000 jobs in jeopardy.  That kind of news causes investors to lose confidence in stocks and could actually be a good thing for bonds.  There is no economic news coming out today.  The Producer Price Index and Retail Sales numbers come out tomorrow and the Consumer Price Index [CPI] Wednesday.  These reports are important indicators for inflation and could help the Fed decide which way to move interest rates on January 30.

We are .20-.30bp away from 5.625% and 5.125%!

30 Fixed | 5.750% 5.850%apr

15 Fixed | 5.250% 5.350%apr