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Mortgage Rate Update: 8/10/2012

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Market Outlook 8-10-12Mortgage Rates Recover After Gains of Past Weeks

After an upward move over the past two to three weeks, mortgage rates recovered a little ground today (a trend that started yesterday), ending in line with the levels we saw on Monday.

Since there was no significant market data released today that may have been a factor in rates moving downward, it still remains to be seen whether this downward move will continue or is simply a hiccup in the upward trend.

Mortgage Rates on the Move: Should You Lock?

Locking in your mortgage rate now makes may make sense now, depending on your needs and financial circumstances. Not only can we help you lock in a mortgage rate that is near all time historic lows, we can help explain which loan options exist and which ones might make the most sense for your situation. That being said, your needs and the market also play a role in the rate lock decision process, so please call us to get accurate lock advice, since the factors affecting your lock are time and market sensitive.

Wondering where mortgage rates are currently at? Since mortgage rates can change many time per day, if you would like an up to the minute quote, feel free to find out where rates are using the free rate quote request form above or by calling us directly.

Economic Calendar for Week Beginning August 13, 2012

  • Monday – N/A
  • Tuesday – Producer Price Index, Retail Sales
  • Wednesday – Consumer Price Index, Industrial Production
  • Thursday – Housing Starts, Jobless Claims, Philadelphia FED Survey
  • Friday – Consumer Sentiment


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