He’s A Genie In A Bottle

Dave Shelor at Prosperity Mortgage tells us that rates appear to be holding at 6.125% on a 30-year fixed with 5% down for this weekend.  Looking back on the week, mortgage bond prices fell a bit under pressure from the CPI, pushing rates up about 1/4 of a point.  For the coming week, the Mortgage Genie tells us that the Gross Domestic Product data will be some of the most important happenings of the week.  Lower GDP growth will create lower mortgage rates, so conversely higher GDP growth will mean slightly higher rates.  Don’t fret though – it’s still a good time to buy!

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