Market Comment and Indicated Rates 4/16/2009

Conventional 30 4.750 0 + 1
Conventional 15 4.500 0 + 1
FHA/VA 30 4.875 0 + 1
FHA/VA 15 5.000 0 + 0
"There was mixed economic news this morning, as Housing Starts and Building Permits came in below expectations and showed that new home construction remains weak.
But on the positive side, there was some good news from the Labor Department as Initial Jobless Claims came in quite a bit below expectations. The past two weeks' improvement in Initial Jobless Claims is encouraging. And there was more good news from the financial sector as JPMorgan Chase reported better than expected earnings for the 1st quarter of 2009 on surging investment banking profits and fixed income trading revenue.
Currently, Bonds continue to trade near a key support level. I recommend floating for now, but I will let you know if things change."

Posted by Leonard Winslow of Dominion Trust Mortgage

Rob Alley, Realtor
The Avery Group at Roy Wheeler
540-250-3275
roballey@roywheeler.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.theaverygroup.com