Rate Update February 12, 2009
Fixed mortgage rates are even with yesterday.
Mortgage Backed Bonds are trading about even on the day but have come off earlier highs already. Technically, bonds are pressed up against a ceiling of resistance at the 50 and 25 day moving averages after some gains in the last couple trading days. For current transactions, I am going to recommend locking in these small gains in case bonds bounce off these ceilings in the coming days.
Current Outlook: Locking