Mortgage Update January 26 2018

“Mortgage Bond prices continue to hover near the lows seen in March of 2017 unable to break out of its current sideways pattern. In economic news, Gross Domestic Product or economic growth, slipped a bit in the fourth quarter of 2017 though within the report it revealed that consumer spending surged. This week, both the Mortgage Bankers Association and Freddie Mac reported that home loan rates edged higher but remain historically attractive. I am recommending floating only those files that are at least 30+ days to closing. If anything changes, I will get back to you. Have a great weekend!”

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