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Mark Svihel          Now doing loans in most states - 1st Time Homeowners money - Down payment assistance available! 

763-753-8133  

Friday, May 18, 2012

SHORT-TERM TREND (5 days or less).  Tilted slightly in favor of lower note rates  

LONG-TERM TREND (6 days or more)  Tilted slightly in favor of lower rates

 Commentary:    With nothing to chew on in terms of economic news mortgage investors are taking directional cues from trading action in the stock markets.  Higher stock prices in this morning’s early going are dragging mortgage interest rates a touch higher.  Looking ahead to the coming holiday shortened trading week Uncle Sam will be in the credit markets peddling $35 billion worth of 2-year notes on Tuesday, $35 billion of 5-year notes on Wednesday and $29 billion worth of 7-year notes on Thursday.  Each of the three auctions will conclude at 1:00 p.m. ET.  Economic data scheduled for next week will be highlighted by Tuesday’s Existing Home Sales figures, Wednesday’s New Home Sales data and Thursday’s initial weekly jobless claims report.  The mortgage market will close early at 2:00 p.m. ET on Friday and will remain closed on Monday, May 28th for the Memorial Day Holiday.    
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Loan Program Rate APR
30 year 3.750 3.850
20 year 3.625 3.764
15 year 3.000 3.176
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Annual percentage rate accurate as of {5/18/2012). Rates & terms are subject to change without notice.  Based on an owner-occupied home with a loan amount of $150,000, 740 credit score, and 20% down payment.  This advertisement is not an offer to enter into a loan agreement at a specified interest rate.  An offer to enter into such an agreement may only be made pursuant to Minn. Stat. 47.206.  Payment calculations do not include amounts for taxes and insurance premiums, and the actual payment obligation will be greater