Rate Update Feb 12, 2008

Mortgage rates look poised to increase modestly in the coming hours in response to a stock market in rally. All the major indexes are currently up over 1.0% in trading today thanks to Warren Buffet’s offer to help out troubled bond insurers. We talked about it before but when stocks rally it usually means money is coming out of the bond market which pushes yields higher.

Current Outlook: locking

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