Rate Update March 12, 2009
Fixed Mortgage Rates are slightly improved from yesterday.
Currently Mortgage Backed Bonds are trading 16 basis points higher on the day. Good news was reported today as Retail Sales beat expectations for the second month in a row. Retail Sales in February fell .1% and while this is still a weak figure, perhaps it is showing that the economy is starting to stabilize a bit.
It looks as though bonds have been able to bounce off the floor of support at the 25 day moving average so we will continue to float for now.
Current Outlook: Cautiously floating as bonds trade above the 25 day moving average