Morning Mortgage Update

The bond market has started off this Monday morning in positive territory. Can it last? The chart below shows we have been trading in a narrow range with a couple days that thread out side the floor and ceiling of resistance. This tight range will continue unless we hear good or bad news out of Washington. I watched Meet the Press yesterday morning and from what I heard the two parties are far from reaching a deal. Mortgage clients should be careful floating a mortgage rate on a purchase or refinance that is closing in a short period of time.