Mortgage note rates are unchanged this morning.
Overnight the German Parliament voted to approve expansion of the European bailout fund. This morning’s news is creating optimism for investors regarding the outcome of the EU debt crisis which may pressure mortgage rates higher.
Stocks in the US started off the session higher but gains have since tapered off. In economic news durable goods orders were reported slightly better than expected and new homes sales increased from last month. However, analysts are still focusing primarily on developments in Europe.
Although sentiment has improved this morning regarding the EU debt crisis deep divisions still remain between Germany and France. I wouldn’t be surprised to see rates go unchanged or even improve a little today.
Current Outlook: neutral