Rates Holding ... Happy Fourth

It's Fourth of July Weekend. Banks are closed Monday so this pricing is going to be good through the long weekend.

30 year fixed conforming 4.25% (APR 4.446%)
30 year fixed jumbo conforming 4.5% (APR 4.671%)

These are absolutely fabulous rates. If you have been actively tracking the market then you know we have been hovering around this level for the last week or so. I know many of you may be thinking, rates could go lower, I'm going to wait. Yes... I suppose they could go lower, but considering they are as low as they have ever been locking makes sense.

It has been an interesting day in trading. The jobs report came out and was negative... shedding 138,000 jobs, the most since last October. This supports investors moving to long term markets and supports those already here. Another major indicator that helped support our market were factory orders, down 1.4% which is huge, suggesting our economy is not in recovery mode, and is in fact sliding the other way. Bad news for our economy, good news for rates.

As you can see our market is currently consolidating, evidenced in our short term graph; and as you can see in the long term (below) we are still able to take advantage of this opportunity.

Have a great weekend all, any preapprovals needed for new home purchases and offers being submitted this weekend. We are available, our contact information can be found through our website... www.homeloanorg.com