Rate Watch 2-13-2009

Alert to Lock,
Continued volatile sideways trading in Mortgage Backed Securities.
Reuters reported that the Obama administration is trying to hammer out a new program to subsidize mortgages and fight the credit crisis.So far today, however, Stocks remain under pressure, as investors feel the new $789 Billion stimulus bill will take time to positively impact the economy, even if it is passed by Congress and signed by the president this weekend.
Overall, Bond prices face tough resistance and are currently trading lower. The markets could be choppy today, as Wall Street clears out early for the three-day weekend celebrating Presidents’ Day.