Rate Update May 18, 2009

Fixed Mortgage Rates are even with Friday.

Mortgage Backed Bonds are trading between a pretty tight trading range of about 30 basis points with the 25 day moving average acting as a floor of support.  With not much economic news on the schedule for this week, we will look to the stock market ebbs and flows to see how bonds might react.  For now, we can look at floating interest rate locks as prices remain steady

Current Outlook: Floating