Rates Up As Investors Digest Freddie and Fannie Crisis

Bonds improved today on stock market losses. However mortgage rates should increase by about .25 to price as a result of investors concerns over the plight of Freddie Mac and Fannie Mae. We have a fair amount of economic reports due out this week, along with the concerns around Freddie and Fannie, this could be a volatile week. On deck this week are the minutes from the last FOMC meeting, the June PPI, and June Retail Sales report. Additionally, Fed Chair Bernanke will speak before the Senate Banking Committee tomorrow.

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National Rates

Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.72
5/1 Adjustable   5.78

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