Okay...still hovering in the 5%-5.25% range on 30 year fixed mortgages.

Not too much action today in the markets....

Dow only moved 4 points...but UP today and the FNMA 4.5% bond just lost 3 points. It is interesting to see such a quiet moment...like the "eye" of the storm some of us may have experienced in our lifetimes.

Data suggesting GOOD news: New Home Sales ROSE 9.6% in July. Manufacturing orders are UP. Oil is steady.

Federal reserve bank of Atlanta president Dennis Lockhart actually made some interesting comments today that the feds should beware of the effect ceasing purchasing Mortgage Backed Securities all at once will have. It made me feel good that I have been saying that for months...we will have to see the exit or continuance strategy that they come up with for the "mortgage backed securities purchase program" that we have all been enjoying the effects of for the last several months.