Rate Update April 29, 2009

Fixed Mortgage Rates are even with yesterday.

Mortgage Backed Bonds are trading even on the day after yesterdays decline from highs on Monday.  Things are expected to be pretty tame today until the 2-day Fed meeting comes to an end and Interest Rate Decision and Policy Statement are released.  Bonds were able to bounce off the floor of support, which is the 25 day moving average so I think it is safe to float for now in front of the Fed decision.

Current Outlook: Floating

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