What could tomorrow's CPI report mean for mortgage rates?

Friday morning we recommended many of our clients lock their rates. We saw nice lows that morning that couldn't be beat.

We were all very happy for this move as mortgage backed securities took a nosedive Friday afternoon, causing lenders to re-price for the worse that day.

We were happy that we could preserve the lower rates offered in the morning for our clients.

What about for our clients that weren't ready to lock?

For now, we are looking for tomorrow's Core Consumer Price Index Report. There are favorable circumstances lead us to believe this report will help nudge the rates right back down, creating another window of opportunity for our clients to lock at a terrific rate.

Clients often ask: "What rate can you offer me?"

Our answer is always: "The best rates available on the market."

We could guarantee a 5.875% for every client. And, remember from our last post, any rate is possible... for a price.

I've found that clients often associate saving money with a low rate. It is important to note that a higher principal due to closing costs increased to buy your rate down, could be much more costly.

If you would like to discuss the current market, rates, or mortgage products available don't hesitate to give us a call.