Rate Update March 10, 2009
Fixed Mortgage Rates are even with yesterday.
Mortgage Backed Bonds continue to trade between the 25-day and 50-day moving average. While bonds continue to trade in this range we can continue to float and hope to capture a rate on a day where bonds are at the high end of the range. If the stock market sees any type of a rally, which I think we would all welcome about right now, this could put some selling pressure on Bonds. If Mortgage backed bonds does break below the 25-day moving average, it will definitely be time to lock something in.
Current Outlook: Cautiously floating.