The financial wizards were once again hard at work over the weekend with the newest  decision to invest another 20 BILLION into the Country's largest bank, Citicorp. This move should allow Friday's surprising rally to continue today. What was odd with Friday's rally is where the Bond market ended up. The 10 year note was up and down all day, but ended near 3.15%, or another 52 week low on yield. Treasuries are still in very high demand with short term 3 month notes reaching lower yields at just .03%. I would expect the 10 year note to show a bit of upward movement this morning with the Citi news, but it shouldn't pose any immediate increase to rates which are showing a national average below 6%. We may see an increase of .05-.10 on 10 year yield today in response to optimism caused by the Fed move, but investors understand that this move is a short term boost and that the economy is still struggling and will be for some months to come. This will keep treasuries in heavy demand and will keep rates low throughout the shortened Holiday week.

THIS IS MY OPINION ONLY AND NOT THAT OF EAGLE NATIONWIDE MORTGAGE CO. ALWAYS CHECK WITH YOUR MORTGAGE PROFESSIONAL REGARDING YOUR TRANSACTION.