Mortgage bonds are up today, pushing mortgage rates down just slightly since the end of the day yesterday.

The stock market's huge reversal directly coincided with money coming out of bonds, pushing mortgage rates up by end of business.

More gloomy news in the retail world today---on the heels of negative earnings forecasts and bankruptcy filings--Retail Sales came in at the worst level since 1992.  They didn't track this number prior to 1992.  Yes, this is the worst Retail Sales figure ever.

It's no laughing matter, but you can take solace in the fact that the Census Bureau is not frivolously spending $700 Billion.  They still use black & white charts:

http://www.census.gov/marts/www/retail.html

The very clear forecast is that things are bleak.  We've seen continued volatility in mortgage rates, but the 30 Year Fixed Rate is getting pretty attractive and the FHA Programs are very strong.

NOT ON THE FORWARD LOCK PROGRAM? Sign up now.  It's totally free and, when this choppy market gives you a chance for a free, no-hassles interest rate reduction, we lock it for you.