March 21st, 2014
March 21, 2014; 9:40am
Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Cautious float
Mortgage bonds (MBS’s) have been mostly flat this morning, presently slightly better. After a week of getting roughed up, MBS’s seem to be stabilizing today. The stock market is rallying today on the rating agency Fitch’s comments that the U.S. is being taken off the watch list and maintains their “AAA” rating. As tension increases again in the Ukraine arena, interest rates should get a little help, but it will likely be only temporary help. Although locking is a conservative good move, we who like a little more risk, will stay with the cautious float recommendation. Interest rates improved slightly today from yesterday. Have a great day and nice Spring weekend!