First Missouri National Bank

Home loan rates hold steady but will be on the Rise
Market Forecast
Friday, July 02, 2010

Look for home loan rates to rise on Friday, regardless of what the 10 year Treasury or the DOW does ... With the increased amount of activity in the industry yesterday, due to the all time low in interest rates, coupled with the fact we are going into a holiday weekend ... interest rates will rise moderately on Friday. Wall street really does not want a lot of 30 year Mortgage Backed Securities to service in the 4’s. (No money to be made for them over 30 years at these rates) We will find in the upcoming days and weeks, the markets to be jittery and for home loan rates to be looking for a reason to rise.

People looking to refinance are finding rates to be the very best ever, make sure you are dealing with a reputable bank and are not paying any junk fees or points. Call us for a free, quick analysis of your home loan to see if it makes sense for you to also capture a great rate and start saving money each month.

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