Hopefully you took the advice of the CMM Capital Markets Team last - TopicsExpress

Hopefully you took the advice of the CMM Capital Markets Team last week and LOCKED YOUR RATE if you were anticipating a closing in the next thirty days.. and here is why: Thursday’s bond market has opened down slightly due to stronger than expected economic data and early gains in stocks (bond price down = yield up = higher mortgage rates). The bond market is currently down 2/32, which put this morning’s mortgage rates approximately .500 of a discount point or .125% in rate higher than Wednesday’s morning levels. We dont believe that the ship has officially sailed in terms of the rate trajectory, but we at CMM strongly suggest that you begin your loan application sooner than later as the current economic as well as political turmoil could have us on a rollercoaster which actually presents opportunity for those engaged in the mortgage process.

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