Here is a snapshot of the bond market today:

And here is what lenders are doing:

106 lenders are lowering rates this morning and 2 lenders are raising them.

Retail sales were down last month and the30 year bond auction went well. Both of these things are causing the DOW to go down and the bond market to go up.

It’s a GREAT day to lock in your rate!

Good morning. Here is today’s snapshot of the bond market:

And here is what lenders are doing:

72 lenders are lowering rates and 13 lenders are raising them.

• Jobless claims stayed flat – the weak job report is helping rates stay low today.
• All eyes are on the 30 year bond auction tomorrow and the retail sales number. If there is a demand for the 30 year bonds and retail sales are low, that will be  good for rates, and if the opposite is true, rates could increase tomorrow.

Enjoy the sun today!

Here is a snapshot of the bond market today:

And here is how lenders are reacting:

97 lenders are lowering rates and 14 lenders are raising them.

• The 3 year mortgage bonds auction was good yesterday , but not as good as expected. The market will tread lightly today waiting to see how the 10 year auction will go today. If it goes well, that is good for rates, if it doesn’t, expect rates to go up.
• Sellers cut home prices over $25 billion as the tax credit ended April 30th. This is a sign that the Fed may need to continue artifically keeping rates low if the housing market is to improve.

Have a great week.

Here is this morning’s snapshot of the bond market as of 9:00am:

And here is what lenders are doing:

So far this morning 10 lenders are lowering interest rates and 80 are raising them.

There is not really any good news for interest rates today-

• News of a $750 Billion bail out plan to stabilize Greece and the Euro caused the DOW to surge (remember good news for the stock market is bad news for bonds and rates)
• Fannie Mae and Freddie Mac announced huge losses, which could have implications including possible continuing of tightening credit guidelines.
• There is a $78 million supply of bonds to be auctioned this week – with good news elsewhere, investors may not be as interested to scoop up all of that supply.
• The important economic news to pay attention to this week will be the retail sales numbers coming out later in the week, along with the jobless claims numbers that always come out on Thursdays.

Make it a great week.