Rate Update March 23, 2009

Fixed Mortgage Rates are even with Friday.  

Mortgage Backed Bonds are attempting to stabilize after last week’s wild ride, in which we saw them reach all time high levels before selling off immediately afterwards.  As the stock market is rallying a bit this morning, it will be interesting to see if Bonds will suffer, or if the recent news of the Fed’s plan to purchase bonds will still have investors buying them up.

Current Outlook: Cautiously floating to see what way bonds start to trade