Rate Update February 9, 2010

Mortgage rates are unchanged from yesterday.

It’s another light day on the economic front.  The main story stealing the headlines today continues to be the fiscal health of euro-zone countries.  Namely Greece and Portugal but some analysts are even raising concerns over Italy and Spain. Fears over those countries defaulting on their debt has driven investment dollars into “safer” US denominated debt.  This is helped mortgage rates remain low.

Later today the US Treasury will auction $40 billion in 3-year notes.  We don’t expect this to impact interest rates but you never know.

For now we remain in a floating position.

Current outlook: float