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March 11th, 2014

March 11, 2014; 9:48am

Good morning!

Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Flat

Interest rate recommendation:  Locking bias

Mortgage bonds (MBS’s) started the morning flat, but have turned worse in the last few minutes and thus our change to a locking bias.  Interest rates are mostly the same as yesterday, but some have moved slightly worse.  With no real news to go off of, stocks are rising at the expense of bonds.  One again, no economic news until Thursday when we get Retail Sales numbers.  The Treasury will hold a big auction today $30 billion in 3 year notes.  This will also weigh on mortgage bonds (MBS’s).  Have a great day!

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