Rate Update April 11, 2008

Mortgage rates increases yesterday afternoon by .125% but have since reversed back to the levels reported yesterday in ‘rate update’.

The bond market is trading slightly higher in response a weak stock market. The Dow Jones Industrial is currently down over 100 points in part because GE reported weak earnings and gave weak profit guidance.

We’ve talked about it before in ‘rate update’ but I have given an explanation as to why a weak stock market typically helps interest rates………

Current Outlook: neutral