5/25/10

Most rate prices have improved today as mortgage bonds are rallying off of a decimated stock market. News releases were a mixed batch today with consumer confidence improving for the most part, but home prices showed a net decline in the 1st quarter, signaling that the home buyer tax-credit did little more than line the pockets of realtors. Most of the market movement has little to do with domestic headlines. Tensions in the Korean peninsula continue to escalate driving investors into the "security" of US fixed income. Keep watching.