Mortgage bonds resumed trading today after the markets were closed in observance of Veteran's Day.

So far, it has been an extremely positive day for mortgage rates. Mortgage bonds are trading up 50 basis points although this is largely in reaction to more bad news in the stock market.

Circuit City's bankruptcy looks like 150 store closings, plus more bad retail news today--Best Buy and Macy's are forecasting some disappointing earnings figures.  No one in retail is optimistic about this holiday season.

However, that probably means some steep discounts for shoppers and gas prices are continuing to drop.

Still in an adjustable rate mortgage?  Get on the Forward Lock Program.  No closing costs, no up-front commitment.  We simply track a 30 Year Fixed Rate mortgage for you and, when the trigger rate hits, you have the opportunity to lock.