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The pending home sales figures were released at 7AM this morning and are usually not a big mover of markets. Pending sales were up slightly at .6% month over month, but down 18.4% year over year. In other gloomy news, the National Association of Realtors only expects sales to increase by .5% in 2008. Although the 10 year note has ticked up to 4.13%, Mortgage Backed Securities remain relatively unchanged from Friday afternoon. As such, I don't expect much movement in Mortgage Rates today. Due to losses...

30 YEAR FIXED NOTE RATE 5.5% LOCK RECOMMENDATIONS - LESS THAN 2 WEEK CLOSING ................ LOCK - 2-4 WEEK CLOSINGS. ............... FLOAT - 4+ WEEK CLOSING ................ FLOAT - CONSERVATIVE CAVEAT ................ RATES ARE AT THE BOTTOM OF TRADING RANGE. CONVENTIONAL WISDOM BASED ON TECHNICAL DATA SUGGESTS LOCK After reviewing data from yesterday, and seeing this morning's cautiousness in the markets, I am revising my recommendation to LOCK this morning. Of particular concern is the ADP...

30 YEAR FIXED NOTE RATE = 5.5% LOCK RECOMMENDATION: < ONE WEEK = LOCK > ONE WEEK AGGRESSIVE = FLOAT > ONE WEEK MODERATE = FLOAT > ONE WEEK CONSERVATIVE = LOCK The Institute for Supply Management released it's index this morning. Though the 50.8 reading was a small amount higher than expected, it was down .1% from October. This is the slowest pace of growth in 10 months. That is good news for bonds. Good news for bonds is good news for mortgage rates. In addition, Corporate profits are...

Best 30 Year Fixed PAR Rate: 5.625% Lock Recommendation: Cautious Float A lot of economic released today, but none of it earth-shattering. Mortgages rates are finding slight support from what is generally perceived to be a weakening market. The DOW is currently struggling to hold it's gains from yesterday. Unemployment report was up slightly, and new home sales are down. On a positive note, the GDP came in as expected and Home prices came in slightly higher than expected. That home price information...

30 YEAR FIXED NOTE RATE = 5.75%Daily quoted rate is always the closest to the PAR rate from our best lenders. It can include fees depending on how you structure you loan. It also depends on qualifications.

We had a great yesterday sparked by the huge sell of in the Dow. As investors move money out of stocks, they put them in bonds which raises the price of bonds and lowers the yield. The yield moves with interest rates. Today started off with a small rally, but as of 1pm EST, the volatility is having us hover around unchanged. This has been good news for bonds which are nearing all time lows. The 10 year note is currently at 4.08%. Other than traders following the stock market and corporate announcements...