May 14, 2008 Interest Rate Update
Mortgage bonds are sitting up slightly and trying to get some momentum to help get rates back down, but have been stalling out. If bonds can find the momentum to push mortgage rates back down before the close of the market today, we may be able to maintain the low level rates we have enjoyed lately. Otherwise we can expect a jump in mortgage interest rates. We’ll keep watching through the day (May 14th) and see what happens with mortgage interest rates.