Weekly Mortgage Update

“I think I can…I think I can…” said the not so little economy that could. The first week of the new year shows us that we continue to improve in fits and starts with some leading indicators improving a lot and others only improving slightly. The big news this week was the ‘buzz’ about the ADP employment report that showed jobs growing at a much faster pace than before. Then today the government numbers came out much lower, dampening all the excitement. So the economy IS chugging along, just not real fast.

“Is now a good time to lock?” Well, Warren Buffet, one of the country’s most successful investors, just locked in $1.5B in debt by basically refinancing his adjustable loans to fixed. Mr. Buffet has not commented, but it is pretty clear that his move reflects his opinion that rates will gradually move higher as the US economy improves. So yes, it is a good time to lock in!

This week 30 yr. fixed rates ranged between 4.625% & 4.875% depending on program, credit and points. H

Ted Clay
Sr. Loan Officer
NMLSR # 217991
OK License # MLO01963

Office: 405-341-8644
Cell: 405-826-1320
e-Fax: 1-866-208-5309



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