Daily Mortgage Rate Predictions

  

  

  

  

  

  

Rates are heading higher… Looks like the 200 day moving average couldn’t hold.

The 200 day moving average was broken this morning.  The GPD was lower than expectations of 1.0%, but showed growth from the 0.6% Q4 2007.  Yesterday the Treasury Auction of 2 Year Notes was not received well.  Today the Treasury will be selling 5 Year Notes at 1:00pm.  The 200 Day moving average was an important line for bonds to cross.  The last time it was broken mortgage rates ran to the upper 6’s.  Currently the FNMA Bond is down -69bp at 98.78.  This kind of volatility was unheard of last year.