Rate Update July 14, 2009
Mortgage rates are higher this morning. See today’s you tube video for an explanation.
We are shifting our outlook to a neutral stance because mortgage-backed bond prices appear to have technical support at the current levels. Should prices dip below support we will shift our outlook to locking. Tomorrow the Labor Department will be releasing consumer inflation data (CPI) & on Thursday JP Morgan is scheduled to release earnings.
Current Outlook: neutral