Daily Market Update 4/22/09

Mortgage rates inched higher Wednesday as stocks rebounded from sharp losses earlier in the week. Even so, our conventional 30-year fixed rate with no points or origination fee has remained at or below 5.0% since April 7. Low inflationary pressures and Fed purchases of mortgage-backed securities continue to offset concerns about the future supply of Treasury bonds needed to pay for excessive government debt. No economic data will be released today.

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