YOUR Mortgage Minute -- April 14, 2009

Good Morning,

Weak consumer spending and tame inflation numbers at the wholesale level were reported today. Retail Sales came in lower than expected as consumers are still keeping a tight grip on their wallets. Also, the Producer Price Index came in lower than estimates as energy prices declined.

Investment banking giant Goldman Sachs reported earnings that were much better than expected as the financial sector is all looking much better than expected on the heels of mark-to-market discussions and the eventual easing of the FASB ruling.

Mortgage Bonds have hit a ceiling of resistance and can't seem to break above that level, so for now I will continue to recommend a locking bias. Certainly, if the situation changes, I will let you know. In the meantime, I hope you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.