March 24th, 2014
March 24, 2014; 8:43am
Interest rate trends: Today – Flat; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking bias
Mortgage bonds (MBS’s) are relatively flat this morning, starting out a little lower and moving back to flat presently. There are no economic reports today, but this week there are many and thus the locking bias recommendation. In addition to the many economic reports this week, the U.S. Treasury will auction $96 billion in notes. Bank of America Merrill Lynch is telling the Fed that the weak housing recovery will stall if interest rates continue to rise throughout this year. Lets hope the Fed listens. In order to sustain good growth in the housing markets, we need good economic growth and plentiful job growth. Neither is happening sufficiently to help the housing market. Have a great day!