March 19, 2020

Today was an eventful day in the rate world! Mortgage backed securities (instrument that drives rates) were up 200bps. Meaning, a $400,000 loan became $8,000 more expensive, today. The upside is the volatiily has been good and bad. There’s been a back and forth between improvement and deterioration from day to day. So, with a bit of patience we should see rates receover today’s losses.


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Sierra Pacific Mortgage Company, Inc.

Sierra Pacific Mortgage NMLS# 1788. Michael Shotnik NMLS: 218281, CO License: 100017466. Regulated in Colorado by the Division of Real Estate #988320. To check license status of mortgage loan originator, visit D.O.R.A. and NMLS consumer access.