April 16th, 2014
April 16, 2014; 9:43am
Interest rate trends: Today – Slightly higher; 10 days – Lower; 25 days – Lower
Interest rate recommendation: Locking bias
Mortgage bonds (MBS’s) are slightly worse this morning on mixed economic news. The stock market is rallying on the news, the Dow is currently up +101 points. Positive economic news out of China is the catalyst and is hurting mortgage bonds at the moment, although loses are minimal. Tomorrow we will see the Philly Fed index and Initial Jobless claims, could cause some movement, but not much expected. We will recommend taking a locking bias until we see further news to encourage floating. Have a great day!