Weekly Rate Outlook

Monday is interest rate recap day and last week was another volatile week.

As my Mortgage Market Guide Weekly newsletter states, rates improved some last week. I hope we are breaking this up trend on rates. Paul's MMG Weekly

Two things not mentioned in MMG Weekly are the stock market and foreign interest rates. On Bloomberg News this morning, the technical analysis suggests stocks are still headed up. England and the rest of the UK is expected to raise their Funds Rate this week to 5.75%.

I see the Worlds money supply as a vast ocean that flows to the perceived higher return and away from lower return. Money is flowing into the stock market and overseas and out of mortgage backed securities. Hopefully this week the outward flow will slow.

MMM