There are no significant economic reports scheduled for release today.

In general market news, AIG (American International Group) announced a larger than expected write down which is one of the factors leading to generally tepid stocks this morning.  The Dow is currently down about 30 points.

Mortgage Backed securities, the securities that directly drive mortgage rates are better by a very small margin, but should not lead to any improved pricing over Friday.

With no data being released, we will watch stocks for a an indication of market direction.

Lock/Float : As always, when the market is near all time lows, locking is a safe play.  In recent weeks, the market seems more responsive to positive data than to negative.  This makes floating your interest rate more risky.  However, many believe we have farther to fall, myself included.  The best question is: how soon will this occur and to what extent?  This is a relatively light week in terms of economic reports.  Stay tuned to financial reports and this blog for more updates.