Rate Update April 16, 2009

Fixed Mortgage Rates are even with yesterday.

Mortgage Backed Bonds are flirting with the 25 day moving average this morning.  Again, as long as bonds can stay above this floor of support it should be safe to float, but we will be watching closely to see if prices can hold.

A bit of good news today from the Labor Department, that is reporting that Initial jobless claims are lower than expectations.  This may not mean much right now, but if we start to see a continued trend of this, it could mean that the job market is attempting to stabilize.  

Current Outlook: Cautiously Floating