21 April 2009 – Mortgage bonds, an indicator of mortgage interest rates, opened favorably this morning; however, recent comments by Treasury Secretary Timothy Geithner that the market seems to be stabilizing, coupled with favorable reports from Standard & Poor’s indicating that home builders are starting to see some positive momentum, have turned the mortgage markets against us. Our opinion is if you are not in a rush, float; if however, you have a definite deadline and need to close your loan, I would consider a loan locking position today. Over the past four months, the 30 year fixed conventional interest rate has held stable within a range of 5.25% and 4.75%. We see no definite indication that the economy has improved to a point where rates will increase significantly from the range we’ve seen thus far. Today, conventional mortgage interest rates are seeing some pressure.