Rate Update March 19, 2010
Mortgage rates are priced slightly worse this morning.
There was no significant economic data released today. The headlines in the financial news today are focused on Sunday’s potential health care vote in Congress. Democrats are currently working hard to line up enough votes to pass the legislation.
From a technical standpoint mortgage-backed bonds (MBS’s) find themselves in a tight range in between technical support and resistance.
30 year fixed rates remain below 5.00% (5.01% APR) so I continue to recommend a locking position.
Current outlook: locking bias