Check out this week’s market update from Trident Mortgage.
There’s not much change that took place this week in the market or interest rates. The interest rates remain at the lowest levels of the year. We have hung around this low point for about two weeks so we will have to be careful. The moment a reversal takes place the rates could take a quick jump. It is often that rates rise much quicker than they move lower. What we’re seeing now is a great example; it’s taken rates weeks to get to this low point and in the matter of one bad day they could move .125% – .25% higher. All your Trident Mortgage peeps pay for a service to carefully track the activity in the mortgage bond market in order to properly advise your clients on a smart time to lock their rate. We’ll be sure to keep you posted and if you or your clients ever have any questions on the existing trends in the mortgage rate market we’ll be happy to discuss.Jason F. Griesser, CMB
Sr. Mortgage Consultant
Ph: 215-440-2073 | Fx: 610-650-5611