Mortgage Rates on the Move

Mortgage rates are on the move, but to where? This is going to be the big question as the markets attempt to settle down. Monday saw a rally of confidence, while Tuesday showed some profit taking. Afternoon dips seemed to transition into mixed overnight markets with moderate declines in Asian and upticks in Europe. This mixed bag is certain to drift into the US market's opening bell. Expected some jostling in mortgage rates as investors continue to erratically flow between the safety of the bond market and the return needs of the equity market. On the news front, expect the most movement related to major banking institutions who will being getting their first slug of $250 billion of government capital investment and reporting earnings all in the same week. We're still on the roller coaster, no rate locking beyond the 15-30 day mark.