Rate Update April, 7th

Friday’s weak Job Report number put a bit of wind back in the sales of Mortgage Backed Bonds on Friday which helped rates out during the day. This morning however, we have seen the stock market rally a bit and pull money out of the bond market taking some of that momentum away. (Remember that Stocks and Bonds fight for the same investment dollar). With earnings season starting up on Wall St. now, we could be in for a lot of turbulence in the market. The word in the trading pits is that the worst of the credit crunch is over, which has helped stocks rally in the last week…but that rally can get to be a bumpy ride if earnings don’t meet analyst’s expectations in the coming weeks.

Current Outlook: cautiously floating while bonds trade above 50 day moving average

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