The Fed kept interest rates

Rates closed the week down on some products and flat on other.

·The market is still volatile and rates are changing everyday.
·The Fed kept interest rates at 2.00% and 5.00% for the prime rate. This is what I predicted last week would happen.
·Mortgage pricing went on a rally today and things are looking pretty good at week’s end. We are currently testing levels of support. I would encourage your clients who may be purchasing in the next 30-45 days to get locked in if they have an offer accepted. Things are getting good.
·Mortgages have shifted a lot in the “jumbo” market and make sure you see the difference for the 30 year fix and 5 year ARM for JUMBO loans!