Mortgage Rate Update April 20, 2011

Interest rates are unchanged this morning although the closing costs associated with these rates are slightly higher.

Higher than expected earnings from Intel and United Technologies is giving the equity markets a boost this morning.  Mortgage Backed Bonds are currently trading slightly lower on the day and haven’t seemed to be affected much by the stock market’s activity thus far.  This could be a sign that there is still some good demand for mortgage backed debt which will help keep mortgage rates low in the near future.  Although we still maintain that rates will eventually be increasing over time, for now we can still afford to keep a floating position.

Current Outlook: Floating