Rate Update January 14, 2009

Posted on by Evan in Rate Update

Fixed mortgage rates are unchanged this morning.  

 Mortgage Bonds are currently trading slightly higher on the morning.  The Dow is off over 200 points in the wake of horrible retail sales numbers released this morning.  IF this continues we expect mortgage bonds to keep rising and may see mortgage rates dip again.

 Currently bonds are about 40 basis points below all time highs so we will keep a floating stance for the long term and see if we can once again test that resistance.

 Outlook: Cautiously Floating

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