Mortgage Rate Update March 14, 2011

Mortgage rates are unchanged this morning.

A flight-to-safety is underway this morning in the wake of last week’s devastating earthquake & tsunami in Japan.  Japan is the world’s 3rd largest economy so investors & policy-makers will be paying close attention to the developments and eventual rebuilding of damaged areas.  On a side note, I received THIS LINK on twitter over the weekend which provides an incredible ground-level view of the tsunami’s destruction.  The stock market in Japan dropped 6% today and stocks here in the US are also starting the day lower.

A 60-year old Japanese man is rescued from the roof of his house 10 miles out at sea.


The economic calendar kicks off tomorrow when the Fed releases it’s monetary policy statement.  It is widely expected they’ll leave rates unchanged but the wording of their statement can move markets.  We’ll also get inflation figures and economic activity measures later on in the week.

For now I’ll shift to a floating position.

Current outlook: floating