Salt Lake City Mortgage Market Update for Nov. 10, 2008

Bonds are at a crossroad today as they are sitting very close to the 50- and 200-day Moving Average.  A big move in either direction would dictate the bias for rates in the weeks ahead, and a reversal for Stocks would mean a big boost to Bonds.

The Bond Market closes early today in preperation for Veterans Day, so not much is going to happen until Wednesday.  So for now I recommend carefully floating if you are closing a loan in the next 30-days.

For Salt Lake City, UT this morning’s mortgage rates are as follows:

30-year fixed: 5.875%

20-year fixed: 5.875%

15-year fixed: 5.500%

FHA 30-year fixed: 6.375%

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