Mike Ogle Mortgage Broker with USA Mortgage discusses this weeks Mortgage Rates

This weeks Mortgage Wrap up!

Bonds can’t wait for September to end already!, After a 133bp gain in August,

Bonds now have given back 120bps so far in September. So we are seeing rates about .25% to .375% higher already.

Next week is full of important housing data, we get a look at new construction via, NAHB housing market index, as well as Housing starts, and existing home sales.

We will also get the FED meeting on Tuesday with the announcement on Wednesday where it is expected the Fed will CUT rates by.25%  

The mortgage bonds have now broke below the 50 day moving average, which is a big negative for bonds, the next floor of support is another 38ps lower, Meaning the trend will be for them to move lower, and Rates higher.

Clients on the fence know that rates are trending higher in the short term and need to get locked in NOW.

Example on $150,000 purchase the difference in .50% rate is another $100 a month of income for borrower to qualify. Just now as I am  writing this email, Another alert to lock has come out, we may see a new rate sheet for the day to the up side.

Need to get you clients approved and locked in soon, to avoid losing out on the lower rates.You can call or go on line, click on the APPLY NOW  link below to apply and get pre-approved today.

Michael Ogle​
Mortgage Banker
[O]573-552-4308
[M]573-216-0618
mogle@usa-mortgage.com
APPLY NOW
3738 Osage Beach Parkway, Ste 102
Osage Beach MO  65065
Company NMLS: 227262
NMLS: 231620
*Wire Fraud Alert*  Before wiring money, call the title company directly to confirm the instructions.
Equal Housing Opportunity
MO:127-MLO
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