Stocks Slip Early, Then Recover Halfway

The year Treasury yield was up to 1.55 this morning up from 1.49 yesterday.  Seeing this and sagging MBS prices does not bold well for interest rates in the short run.  It would be prudent for your clients with closings in the near future to lock in their rates now.  With European stocks slipping and continued disappointment with Japan's stimulus program, stock were sagging here today as well.  The Dow closed down 80 points but was well off its lows.