Rate Update May 19, 2009

Posted on by Evan in Rate Update

Fixed Mortgage Rates are up from yesterday.

Mortgage Backed Bonds were beaten up pretty good yesterday as stocks enjoyed a rally of over 200 basis points.  The bleeding stopped for bonds at the 100 day moving average, which is where they are currently trading this morning.  Now that bonds have stabilized at this floor of support, it should be safe to float for now in hopes of a slight rebound from yesterday.

Current Outlook: Floating

 

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