Mortgage Update | 2.10.2008 | 30 Fixed 6.375% 15 Fixed 5.750%

March 10, 2008

We are set for another wild week for Fannie Mae Mortgage Backed Securities. Today the mortgage bond market has moved 66bp again today. 30 Year Fixed interest rates lowered .125% at open, then rose about .25% by mid morning, and now sit almost equal to Friday. The economic reports due this week are Balance of Trade [3.11], Crude Inventories [3.12], Retail Sales [3.13], Initial Jobless Claims [3.13], Consumer Price Index [3.14], and Consumer Sentiment [3.14]. The hyperlinks above will explain how the economic reports effect the mortgage bond market, inform you of the economist current estimates for the reports, as well as the actual report information once it is released.

The GrauTeam.com can help answer you questions like, when is the next fed meeting, how much has the feds cut rate, what is the fed rate cut history, and what impact does this have on mortgage rates? The answers are all here.

RATES for Monday MAR10

30 Fixed/APR | 6.375% 6.475% 15 Fixed/APR | 5.750% 5.850%7/1 Arm/APR [w/1%]| 5.375% 5.575%

Jumbo 5/1 Arm/APR [w/1%]| 5.625% 5.725%

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