Mortgage Market Update - 3/26/08

Stocks open down this morning as investors face bad news from all angles...New Homes Sales down to a new 13 year low in February, Factory orders were down and oil spiked $3 a barrel. On top of that, the proposed $19 million buyout of Clear Channel is not to clear as banks are relunctant to lend.
Bonds rally as the yield hits 3.45% down from yesterday at 3.5%. Should see lower mortgages rates today...but that could all change quickly.
Good Luck!