Market Alert

This is some finance market info, i thought everyone should know. So you can be an expert to your clients. The Treasury bill drives mortgage prices, it is the primary cost associated with standard bank mortgages.

We have an excellent finance group that tracks the bond market for us.

So far rates have worsened 6 of the 7 days. Although everyone got good news from the fed, that rates were holding at 5.25%, the notes from the fed meeting showed a strong concern for inflation and little concern over the health of the economy.

The economic date released since then shows that employment is up and the overall economy is strong.

What's the big deal? The rate ceiling (maximum rates for a standard 5% down mortgage) we have seen for many months of 6.25% was annihilated by the market. The bond forcast we recieved late last week showed the market settle down again at 6.5% to 6.625%. This is expected to stand.

This is a 0.375% rate worsening from a week ago.

So warn your clients, to lock their rates to avoid the market shift.