In what has become common over the last week, mortgage bonds and interest rate are all over the place.
The Core Personal Consumption Expenditure Index for February was reported lower than anticipated, indicating that inflation remains subdued for now. Also in the news, Consumer Spending rose for the fifth straight month, while Personal Incomes were unchanged.
I recommend floating, for today.
Mortgage rates are all over the place since the Federal Reserve stopped purchasing this week. We don't expect things to change anytime soon.
In economic news, the final reading on Fourth Quarter Gross Domestic Product came in lower than the previous advanced reading. Also in the news, Consumer Sentiment was reported slightly better than expectations.
I reccommend floating today, but be careful out there.
Mortgage Bonds are starting the week improved from Friday.
Last night, the House of Representative passed the Healthcare Reform bill. Although the markets are not sure how to react just yet, the news could be a big factor over the next days and weeks depending on how everything shakes out.
I recommend floating for now.
Dont forget in order to qualify for the Homebuyer Tax Credit you must have a signed contract by April 30th.
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