Mortgage bonds prices remain positive this morning helping rates improve. Stocks are negative with the DOW down 20 points. There are no guarantees that will continue as we have seen some wild market swings as of late. Oil slid below $70/barrel in overnight trading but is currently heading a little higher. Falling energy prices generally help alleviate the fear of inflation and help rates improve. The inverse is also true. The Greek/Euro economic saga continued with Greece indicating they may take legal action against some US banks for hyping the possibility of a Greek default. Expect more market volatility as further developments emerge.
Carlos Figueira - Keypoint Mortgage 