Real Estate loan rates react to Bond selling pressure

Bonds followed their recent trend lower in early trading. Pressuring Bonds lower is the strength in the Stock market as well as the exorbitant amount of Bond supply hitting the markets next week.
In related news, the New York Federal Reserve is continuing to purchase Mortgage Backed Securities. However, their efforts are just not enough to absorb the flood of new closed and securitized mortgages that are hitting the market after the heavy refinance activity recently.
Overall, Bonds have muscled back higher from the lower levels seen earlier this morning. Therefore, I recommend floating for now, as we watch to see if Bonds can regain some ground. I will continue to monitor the situation and keep you posted if a change occurs.