12/2/2013 - Today's Interest Rate Market Forecast is Projected Higher

Today's Interest Rate Market Forecast

 Mortgage Rates Currently Trending: 

 HIGHER 

 Today's Mortgage Rates Forecast:

 HIGHER 

 7 day Mortgage Rates Forecast: 
  NEUTRAL to HIGHER

 

Like everyone else in America, today traders will return from the Thanksgiving holiday.  Expect lots of action, which will lead to some volatility.  We've already started today down 26 basis points, meaning two things - 1) we've broken significantly below our floor of support; and 2) interest rates will come out slightly higher this morning.  Some lenders may be up to .125% higher in interest rate than we saw last week, others will offer the same rate but will have worse rebate pricing (the cost to obtain a rate or the credit the lender gives you towards your closing costs when selecting a rate).  It's going to be important to watch today if we do close the day below the 100.86 mark, or if we will see a rally and pull up above it.  If you are closing soon and are not locked in, be sure to stay in close contact with your Mortgage Loan Professional today in case of market deterioration that could cause a worsening to your interest rate or rebate pricing.


Remember, if you want to know the benefits of locking your rate today versus floating, simply contact your Most Trusted Mortgage Loan Professional or give us a call as we have access to real time Wall St. data and instant market alerts with breaking news.  Call us at 314-744-7806 or visit our website at www.CallTheMoneyMan.com.