Today’s Market Update provided by North Atlantic Mortgage Corp.

Current Trend Direction: Bond Prices Sideways to Higher/Rates Lower

Risks favor: Cautiously Floating

Mortgage Bonds are 19 basis points higher as the Mortgage Bond Bulls are working hard to keep prices above the 200 day Moving Average.

Jobless claims trend reversed as claims came in worse that expected at 482,000, 42,000 more than expected.
Claims under 400,000 per week is what’s needed to see stabilization in the Unemployment Rate.

Refinances transactions index increased 10.7 percent from the previous week according to the Mortgage Bankers Association as many are still taking advantage of low rates.

30 Year Fixed Rates
5.125% APR 5.148%- No Points

30-Year Jumbo Fixed Rates to $729,000
5.25% APR 5.263% – No Points
5.00% APR 5.01%- 1 Point

30-Year Jumbo Fixed Rates to $1,000,000
5.875% APR 5.88%- No Points

5/1 Jumbo Arm to $1,500,000
4.50% APR 3.53% – No Points

7/1 Jumbo Arm to $1,500,000
4.75% APR 3.60% – No Points