Mortgage Rate Update February 11, 2011

Posted on by Evan in Rate Update

Mortgage rates are unchanged this morning.

This morning’s University of Michigan Consumer Sentiment figures were a bit of a mixed bag.  Although consumer sentiment regarding current conditions hit an 8-month high the outlook for future conditions fell below expectations.  Mortgage rates look like they may improve on the latter half of the report.

The circumstances in Egypt are becoming more volatile as protesters begin their 18th day calling for change.  President Mubarak made some concessions in a speech yesterday but still refuses to step down from his role as president.  We are currently seeing a “mini” fight-to-safety which should favor mortgage rates here in the US.

At this point I will recommend a floating position as we head into the weekend.

Current outlook: floating