You are on page 1of 1

DAILY MARKET UPDATE

FRIDAY JUNE 15, 2012


TODAYS RATES
COURTESY OF
CITY CREEK MORTGAGE APR: 30 Yr Fixed: 3.485% 30 Yr FHA: 3.81% 15 Yr Fixed: 2.937% 30 Yr Jumbo: 3.594% 5/1FHA Arm: 3.64%

KEY RATE INDEXES

***Mortgage Rate Disclaimer: Rates posted are based on scenarios pertaining to the purchase or refinance of a primary residence. Factors include, but are not limited to, an above average credit profile, sufficient down payment on a purchase, or sufficient equity in the appraised home value for a refinance. If the terms of your loan trigger any risk-based loan level pricing adjustments (LLPAs), your rate quote will be higher. Please consult a licensed loan originator for an explanation of the characteristics that may apply in your circumstance specifically.*** NMLS ID# 85855

MARKET COMMENTARY
Stocks and bonds are both higher, but for very different reasons. News was negative this morning for manufacturing with the Empire State Index way below expectations and Consumer Sentiment coming in at a 6 month low. That said, stocks are still positive on the expectation that the Fed will step in. Europe will also be hanging over investors heads this weekend as Greek elections are set for tomorrow. With most citizens not wanting their government to stop the flow of cash entitlements, the favored parties are not expected to conform with the bailout terms. Mortgage bonds are up on the safe haven trade, and that is helping with interest rates for now. We will still advise a locking bias on short term transactions as the volatility this weekend could be severe.

FOLLOW US ON:

AND OUR WEBSITE

mike@citycreekmortgage.com