Rate Update February 10, 2009

Fixed mortgage rates are even with yesterday.  

 Mortgage Bonds are trading higher this morning ahead of some very important news expected for later today.  In the coming hours we will hear from Timothy Geithner when he announces the detailed plans for the remaining TARP money.  This could have a significant effect on both stocks and bonds.  Also heading our way today will be the results from the Senate vote for the $800 Billion stimulus package.  And if that wasn’t enough Fed Chairman Ben Bernanke will speak about the Fed’s efforts to sustain liquidity in the market.

 These events can have a big impact on the direction of both Stocks and Bonds for the days and weeks to come.

 Current Outlook: Cautiously Floating