Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!
Tuesday’s bond market has opened in positive territory following weaker than expected economic reports and early stock losses. The stock markets are negative ground with the Dow down 52 points and the Nasdaq down 14 points. The bond market is currently up 16/32, which will likely improve this morning’s mortgage rates by approximately .125 - .250 of a discount point.
The Labor Department reported this morning that September’s Producer Price Index (PPI) fell 0.6% while the core data fell 0.1%. Both of these readings were weaker than expected, indicating that…
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©Mortgage Commentary 2009
* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com
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