Mortgage Rates April 27, 2015

Mortgage Backed Securities are not playing basketball, but they are at a pivotal point.  There has not been a lot of movement in the last several weeks in MBS, but stocks have enjoyed a nice rally.  We have a lot of data coming out this week, Case-Shiller, GDP, and the Fed interest rate decision all happen by Wednesday.  No one expects the Fed to raise rates, but the language use will be important as inflation has been a tad hotter than expected.  Remember inflation is the arch enemy of bonds.  Although you could start the week floating, I still think it more prudent to lock as rates are very good.