Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!
Thursday’s bond market has opened down slightly following another stock rally. The stock markets are showing strong gains with the Dow up 182 points and the Nasdaq up 42 points. The bond market is currently down 5/32, which will likely keep this morning’s mortgage rates near yesterday’s levels.
This morning’s release of the 3rd Quarter Productivity data gave us favorable results. It showed a spike in productivity of a 9.5% increase. This was much stronger than expected, but that is good news for bonds for this type of data. Strong levels of productivity allow…
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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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