Good morning Red Phoenix Nation!!! Friend of Red Phoenix is mortgage expert Matt Grant and he gives chatter about rates and what the market looks like this week! If you like what you see and wish you could take advantage of what's happening out there, maybe you need some help. If you do, I'm always around and so are my experts!!!!
john@redphoenixco.com
Greetings-
Mortgage Market Commentary:
This week is still all about what the stock market does on a daily basis, it isn't rocket science to know that these days if stock indexes increase the bond and mortgage markets get tagged - and the opposite also applies. There are a number of key economic releases this week but the big one hits Friday with the September employment report, present estimates that will likely change through the week is for non-farm jobs to increase a measly 60K jobs and non-farm private jobs up just 83K, and the unemployment rate is expected unchanged. If those estimates prove true, the job growth would suggest the economy is back-sliding toward another recession. Technically the bond and mortgage markets continue to hold bullish outlooks. Last week both markets tested their key supports twice and both times held levels that if they were penetrated would have changed the technical structure. The financial markets (stocks and bonds) will continue their choppy swings his week. Greece is still in play with many believing eventually it will default but most likely the country will get its next dose of money on the 13th of this month to extend the default for a few more months.
Current Interest Rates:
· 30 Year Fixed 3.875%
· 30 Year Fixed (FHA) 3.750%
· 15 Year Fixed 3.250%
· 5 Year ARM 2.750%
· 7 Year ARM 2.990%
· Call or Email for JUMBO rates
*** The interest rates posted are approximate rates. Interest rates could be higher or lower depending on the loan amount, loan-to-value, credit score, debt ratio, etc.
As always, have a great week and should I be of assistance to you or your clients, don’t hesitate to email or call direct.
Matt Grant, MMS
NMLS #324106
Executive Vice President
Rubicon Mortgage Advisors, LLC
7101 York Ave S Suite 385, Edina, MN 55435
P (952) 921-3337 / F (952) 230-7811 / C (763) 370-0418
www.rubiconmortgageadvisors.com
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