It’s National Open House Weekend and the “Spring market” seems to be on fire in the local beach markets.  Several of the real estate professionals I work with have reported multiple offers on very well priced properties.  Maybe we are seeing the beginnings of a turnaround in the market?  The increase in activity is good news at any rate.

Mortgage bond prices finished the week slightly higher helping rates improve.  The up and down trading pattern continued throughout the week.  Rates were better Monday morning tied to stock weakness.  Those gains were erased after Spain and Italy had another round of relatively successful debt auctions Tuesday.  Fortunately MBS prices bounced back Thursday following reports out of Europe that consumer confidence there continued to slip.  This reignited some of the flight to quality buying of US debt instruments.  The Treasury auctions generally showed strong foreign demand.  Mortgage interest rates finished the week better by about 1/8 of a discount point.

Here’s the link to my rate sheet for real estate professionals:  <a href="https://www.box.com/s/51de58709d4440faeddf&quot; title="http://www.box.net/shared/bxjyydagau&#010;http://www.box.net/shared/uks538ajcm“>Baxter Rate Sheet