The retail sales report was released today and it was much worse than expected. This has been bad news for stocks, but good news for mortgage bonds. Rates are good this morning with governments (FHA & VA) at 5.5% with 0 + 0 or 5.0% with 0 + .25. Conventionals are following along the same path at 5.5% with 0 + .25 or 5.0% with 0 + .75.

For the first time in many weeks, the Tex Vet rate is looking good again. It is 4.6% with a 1% participation fee.

Most industry experts think that housing prices are at the bottom and have even begun the “upswing” in some markets. Now is a great time to buy – especially if you’ve been sitting on the fence.