Stocks traded higher today on strength in from players like Countrywide and Microsoft.

Countrywide did report negative earnings however not as low as "the Street" wa expecting. What's more, they did show signs of an optimistic future.

This is significant because when Stocks move higher, it comes at the expense of Bonds being sold (and vice versa). What we want to see, is Stocks selling off and moving lower because this means Bonds prices are improving and so are our rate sheets!

At closing bell this week, we're still holding to our gains from the increase in Bond prices earlier this week.

Contact me for a rate quote!

Less important is news in the Stock Market and probably more important is the big news item coming out next week on Wednesday. Do you know what it is? That's right...the next Federal Open Market Committee meeting which comes once every six weeks. We're expecting another Fed Funds Rate cut at this point; estimated at 25 basis points (.25%).

Recommendation: last months Fed Funds Rate cut helped bonds initially but Bond prices were eventually pushed lower. What we're going to do now is float, but float cautiously! If prices move any lower we'll quickly recommend you lock. So check back and check back often.