Rate inching higher

Interest rates continue to inch higher as the trend lower in Mortgage Bonds continues.

There was some weak economic news, as well as tame inflation data, reported this morning that would normally be bond-friendly. However Bond prices continue to follow the path of least resistance, which is lower meaning higher interest rates.

I am hopeful that Bonds will bounce higher and help interest rates improve some but until that time, I am advising clients to lock as the trend lower in Bonds is not our friend at the moment.

Leonard Winslow
Direct: 434-760-2580
E-fax: 434-688-0496
943 Glenwood Station Lane, Suite 200
Charlottesville, Va. 22901
leonard.winslow@newamerican.com
web: http://www.newamerican.com/leonard.winslow
http://www.facebook.com/CharlottesvillesLoanExpert
License #MLO-4817VA-NMLS #265272