Rate Update March 10, 2009

Posted on by Evan in Rate Update

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.

 

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