Rate Update: Rates Rise On Sanguine Stock Market 2008-04-02

By:: Paul King - MortgageLoan.com

Rates are again up today, as the stock market posted gains again. The sentiment on Wall Street is that as a result of yesterday's writedowns by UBS, the worst may be over. This is bad news for mortgage rates. Rates should rise by about a quarter point today to price. There is no news released today of significant importance to mortgage rates, other than February Factory orders which showed a slight decline, good news for rates, but overshadowed by the stock market. Bernanke is speaking today as well to congress, so any comments given in testimony could also affect rates. The most important data of the week comes out Friday with the Unemployment data.

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Loan Type	Today	+/-
30 yr fixed	3.78
15 yr fixed	3.06
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