Good morning. Shake off whatever headache you may have and get ready for a busy day....

At the open...

(since 5pm)

APRIL FN30_______________________________

FN 4.0 -------->>>> -0-01 to 99-01 from 99-02

FN 4.5 -------->>>> -0-02 to 101-01  from 101-03

FN 5.0 -------->>>> -0-02 to 102-09 from 102-11

FN 5.5 -------->>>> +0-00 to 103-00 from 103-00

FN 6.0 -------->>>> +0-00 to 103-20 from 103-20

APRIL GN30_____________________________

GN 4.0 -------->>>> -0-01 to 99-02  from 99-03

GN 4.5 -------->>>> -0-01 to 101-07  from 101-08

GN 5.0 -------->>>> -0-02 to 102-23 from 102-25

GN 5.5 -------->>>> +0-00 to 103-12 from 103-12

GN 6.0 -------->>>> +0-00 to 103-25 from 103-25

The Mortgage Bankers Association reported Weekly Mortgage Applications this morning. As expected media attention surrounding the Obama Administration's plan to save housing and lower mortgage rates helped to increase borrower's interest in lowering their mortgage payment.

For the week ending March 13 the overall applications market index was up 21.2% to 876.9. Refinance applications were up 29.6% as the MBAA reported the average mortgage rate on a 30 yr loan dropped from 4.96% to 4.89%. Purchase applications were up 1.5%.

Borrowers: If you are waiting around for lower mortgage rates.....4.89% is a record low for this survey.