Mortgage rates are unchanged today.
Today’s economic data was reported in line with analysts’ expectations so the financial markets have not made any decisive moves. The National Association of Home Builders index showed that home builders across the nation continue to have relatively low expectations for the housing market in the near-term.
This morning’s Empire Manufacturing data, which reports on economic activity in the New York region, showed modest growth but no big surprises.
Despite weaker than expected 4th quarter earnings on the part of Citigroup & Apple suffering from the announcement that CEO Steve Jobs would take a leave of absence stocks are irking out gains this morning. This could put pressure on rates to move higher. Since rates are still at the lower end of recent ranges I would recommend locking.
Current outlook: locking