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April 14th, 2014

April 14, 2014; 10:30am

Good morning!

Interest rate trends: Today – slightly higher; 10 days – Lower; 25 days – Lower

Interest rate recommendation:  Locking bias.

Mortgage bonds (MBS’s) are a little volatile this morning, trading in both positive and negative territory.  Presently MBS’s are worse at -9bps as stocks rally, Dow currently up +130 points.  Retail Sales came in better than expected, helping the stock rally and creating headwind for interest rates.  We will maintain our locking recommendation at this time.  Tomorrow we will have the CPI numbers, Wednesday Housing numbers and on Thursday the Philly Fed Index.  Interest rates are great right now, take advantage and enjoy!  Have a great day!

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