What's happening with Rates

We closed the week with nice improvements in rates. The mortgage backed securities market pushed through the 50 day moving average and closed very close to the 100 day moving average, meaning we have the best rates we've seen since late May. With all the added supply in the bond market caused by the unprecedented government spending, don't expect these rates to last long. If you have been holding out for the mythical 4.5% 30 year fixed, this may be your last chance to get something close. At least do yourself a favor and get your loan submitted so that if we do see a further dip, you can grab a rate and lock it in!