Rate Update July 21, 2009

Mortgage rates appear poised to move lower this morning.  Despite positive earnings reports that have helped stocks to move higher, mortgage-backed bonds have rallied this morning thanks to comments made by Fed Chairman Ben Bernanke.

Watch today’s you tube video for details on what he said.

Click this link to view Fed Chairman Bernanke’s Op-ed piece in this morning’s WSJ.

Current Outlook: floating