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Mortgage Market Update - 06/29 - Rates Have Hit Bottom

Posted 06-29-2009 at 10:38 AM by dlenski

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Rates Have Hit Bottom

Mortgage Backed Securities are staging a small rally this morning. Jim Lockhart regulator of Fannie/Freddie says we have seen the bottom for rates. We think they will go a little lower. We do not believe they will get close to 4.75%. 5.00% is our target for rates. We have high impact economic news out on Tuesday, Wednesday and Thursday. Many traders have taken this week as vacation. WIth very little volume, we could see volatile swings in the market. This should give us the opportunity to lock.








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