Melissa's Mortgage Minute

Believe it or not I just received an alert that some banks may consider re-pricing for the worse!!! Mortgage back securities are only down .001 and the 10-Year bond is at 1.68%. Um really? 

Mortgage rates go up in the blink of an eye and crawl slower than a snail on the downside....actually, hold that thought! Much of the day can be associated with profit taking and renewed worries about China and Europe. 

The Dow dropped by 19 points holding close to 18,000. While, oil held this mornings loss and close down 1.5% to $50.51

The Dollar was stronger again today supported by the drop in jobless claims and a stronger than expected wholesale sales report. No one expects much movement until after the Fed next week. 

The 10-Year bonds close at 1.68% part in thanks to the German Bund which hit an all time low today of .023%. Will Germany join the team of countries with negative interest rates?? 

Mortgage rates as you have read went nowhere today and with Consumer sentiment the big report tomorrow, it's unlikely that I will have good news for you except for TGIF.