Orlando Mortgage Blog

Dow Down and Dollar Up

May 23rd, 2011 11:39 AM by BILL WILBANKS

 

The DOW is currently down 147, the dollar is up and the 10 year is down to 3.0993 from Friday's low close at 3.1488 on mixed news led mainly by fears of EU strength ofr weakness over the weekend. Rates don't appear to have been impacted yet today though points did improve very slightly this AM. We're now just over 5 weeks from the end of the QEII money spigot being turned off. I certainly can't say what that will mean when the Fed's pull out and opinions sit firmly on both sides of the question, but I know a 30 year fixed today at 4.50% with no points to the borrower for a well qualified home buyer and in many cases current home owner on a refinance is nothing short of phenomenal. All the moves are on the buyers side of the ledger for sure.

Posted in:General
Posted by BILL WILBANKS on May 23rd, 2011 11:39 AM

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