Mortgage Rates Steady

The mortgage securities market is off to a negative opening, potentially raising rates slightly. However, the US government is likely to keep a lid on things with additional buying of mortgage-backed securities. Surprisingly larger jobless numbers today, yet rallying stock market this morning is likely to keep the mortgage market steady. Mortgage rates appear to be at, as Freedie Mac leadership has stated, at there bottom. The US government is likely to help smooth the volatility and keep mortgage rates just below 5%, while monitoring indicators of economic acceleration (inflattion).