Rate Update

Mortgage rates have been all of the place today. as Stocks started the day with another round of selling. The sharp sell-off in the Stock market has helped Bond prices of late, as some of the money from Stock sales is finding its way into the Bond market, including Mortgage Bonds. Some of this action reversed course this afternoon.

In other news, the Senate passed the controversial financial regulation bill last night with sweeping changes for the financial world. The bill must still be reconciled with the one passed by the House before being sent to the President to sign into law.

For now, I recommend floating as I monitor the situation to see how the direction in Stocks plays out.”

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Rate Update

"Mortgage rates are down today after some mixed economic reports this morning.

In the news, the Producer Price Index, which measures inflation at the wholesale level, was tame for the month of April. In other reports, Housing Starts in April rose above expectations to the highest level since October 2008, while Building Permits fell short of expectations. Although the overall data on housing is still mixed, this represents a good time for long-term investment in the housing market.

For now, I recommend floating.

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Rate Update

"Problems in Europe continue to dominate the headlines and influence global markets, as skepticism of Greek austerity measures pressured Stocks lower and weakened the Euro.


In US news, Retail Sales for April doubled expectations and marked the seventh consecutive monthly increase. However, with the uncertainty in Europe driving the trading activity, the news did little to influence the markets.

I reccommend floating today.

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