Rate Update March 10, 2008

Thankfully mortgage-backed bonds managed to close above the 200-day moving average on Friday afternoon. This morning mortgage-backed bonds have come under selling pressure. Watch today’s you tube video to find out what is impacting the bond market……

Search my February blog postings for an article-"Why Fed Rate Cuts Do Not Lower Mortgage Rates" for an explanation as to why a Fed rate cut will not necessarily push mortgage rates lower.

Current Outlook: very cautiously floating, ready to lock…