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Investors are unwinding their safe haven trades, dumping excess mortgage bonds into the open market, pressuring mortgage rates to move higher. Get ahead of the changes because MRV -- Mortgage Rate Velocity -- is as high as its been in a year. Rate hikes are coming this week and they're going to hit hard.
Maybe now we can say that housing has bottomed? After 3 years of disastrous data, 19 of the 20 markets tracked by Case-Shiller improved last month -- the 5th straight month of strong data and the index's strongest showing in 3-plus years. This is definitely something for the news van.
With evidence that Swine Flu ran for the border this past weekend, mortgage rates are improving. Confirmed cases of H1N1 Swine Flu have spread to 5 continents and financial contagion has put markets in Safe Haven mode.
