Weekly Wrap up and Weekend Update

This week was filled with as much intraday market and interest rate volatility as we called for. In fact, many lenders repriced rates today for the better, improving either rate, rebate, or both. Locking an interest rate is not a bad idea when factoring in the positive rate improvement today with a risk that any deal over the weekend that ends the crisis in Cyprus could cause bond and mortgage markets to likely see rates increase. It really is a great time to buy a home as we see the housing prices starting to show signs of moving up and rates are doing the same.

We may just be seeing that "bottom" that everyone wants to get in on. If you would like me to discuss the best time to lock in mortgage interest rates with your clients this weekend, please don't hesitate to contact me. Please call 314-744-7806 or visit my website www.castelli.valuedlender.com.

Good luck this weekend!