April 9th, 2014
April 9, 2014; 9:55am
Interest rate trends: Today – Flat; 10 days – Flat; 25 days – Flat
Interest rate recommendation: Locking bias
Mortgage bonds (MBS’s) are flat currently, but slightly better than they were earlier this morning. Interest rates are the same, but pricing is .25% worse at some rate points. There are no economic reports due out today, but we will get a look at March’s FOMC meeting minutes at noon today. Investors are looking at a slower 1st quarter being due to harsh winter weather and are optimistic for 2nd quarter. With this optimism we will maintain our locking bias as money flows from the safe bond market to the higher risk/return stock markets, causing interest rates to edge upward. Have a great day!