Mortgage market is currently down 12 bps this morning, and equity markets are picking up the losses from last week.
Existing Home Sales report came in around 16% lower in December at 5.45M, a lot lower than the 6M expected.
The main thing in the news today is Ben Bernanke and his chances of a second term. From the way it looks, he will be reconfirmed as the Fed Chairman.
Tomorrow we have the Consumer Confidence report which should have some impact on rates, so I’d recommend floating any rate locks at the moment until tomorrow.
