Rate Update Feb 21, 2008

You Tube link to see rate update video: no video today

Technical trading patterns dominated the interest rate picture yesterday. After hitting the 200-day moving average yesterday morning mortgage-backed bonds have rebounded nicely recovering 100 basis points.

There were a couple economic reports out this morning showing weak economic activity. For now we are going to recommend a floating stance with the hopes that the momentum carries rates lower.

Current Outlook: floating

The views and opinions expressed in this site are those of the author(s) and do not necessarily reflect the official policy or position of Cherry Creek Mortgage Co., Inc. This is for informational purposes only. This is not a commitment to lend.