Rates stay on the floor. 4.25% is still available

Quick update and then I have to get back to working on your loans! Rates have been updated on my interest rates page.  Here is where we are :

The treasury and mortgage markets have been on a steady climb as of late. There continue to be signs that the economic recovery and housing, in particular, have hit some bumps in the road. Home sales in May were very disappointing after big gains were seen in March and April as a result of the homebuyer tax credit. Some housing analysts are predicting further dips in home prices ahead. European woes and reported slowing growth in China have added to the strength of the treasury market while putting pressure on stocks. The highly anticipated Unemployment Report for June will be released on Friday. 

While the there is plenty of temptation to float your interest rate, we have found a bit of a floor @ 4.25% fixed with about 1 point upfront  and 4.5% with zero points. Although all indicators point toward a continuance of negative economic news world wide, I do not advise floating when rates are this low. LOCK YOUR LOAN! Even though we are clearly busy, I do have plenty of room on my desk for your mortgage application!