Fixed Mortgage Rates are slightly improved from yesterday.
Mortgage Backed Bonds continue to trade in the middle of the 25 day and 50 day moving averages. The good news for mortgage backed bonds is that the 100 day moving average is starting to rise a bit which could end up being a secondary floor of support.
As long as bonds continue to trade within the middle of this range, I think that it is safe to float. As prices get up near the 25-day moving average I will likely be switching my stance to locking in and taking advantage of a .125-.25% decrease in Mortgage rates.
Current Outlook: Cautiously Floating