Mortgage Rate Re-Pricing Alert 2:00 PM ET, June 9, 2010

By:: David Coster - MortgageLoan.com

Mortgage Rate Re-Pricing Alert 2:00 PM ET, June 9, 2010

Lenders may lower mortgage rates from their initial morning pricing as the bond market is dramatically improved. Despite positive news (which is typically bad for mortgage rates) from a rising stock market, encouraging comments on economic growth from Federal Reserve Chairman Ben Bernanke, a positive Beige Book report on the state of regional economies around the US, rates are improving. The primary reason for improvement appears to be demand for US Treasuries during an auction this morning, indicating a strong demand for “safe” investments. Mortgage-backed securities fall into this type of investment.

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Loan Type	Today	+/-
30 yr fixed	3.72
15 yr fixed	3.03
5/1 ARM	2.75

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