Rate Update April 21, 2010
Mortgage rates are unchanged this morning.
The ebb and flow of concern over Greece has turned negative once again. This has helped the “flight-to-quality” trade gain a little momentum today which is supporting mortgage-backed bond prices.
Mortgage rates might be lower if it wasn’t for stocks trading higher on better than expected earnings from Apple. When stocks trade higher it is often at the expense of mortgage rates.
There isn’t much else going on today in the financial markets. Tomorrow the US Treasury will announce treasury auctions for next week. The volume of these announced auctions could drive interest rates for better or worse.
Current outlook: neutral