Today's Market Commentary:
RATES IMPROVE DESPITE STOCK RALLY, TREASURY AUCTIONS

Mortgage interest rates improved this past week despite supply pressures from Treasury debt auction and despite the stock market rallying over 500 points. The Treasury auctioned off $63 billion of debt on the week. Economic news was generally positive. February Retail Sales were down 0.1% on expectations that they would be down 0.4%. Excluding automobile sales, retail sales were actually up 0.7% on expectations that they would be down 0.2%. The University of Michigan Consumer Sentiment Index was slightly better than expected and the January Trade Deficit was smaller than expected, falling to a six year low. Weekly jobless claims, however, increased more than expected.

The Down Jones Industrial Average is currently at 7,124. Crude oil futures are currently trading at $47.73 per barrel, up almost $2 per barrel on the week. The Dollar weakened versus both the Euro and Yen.

Next week look toward Monday's Industrial Production, Tuesday's Housing Starts and Producer Price Index (PPI), Wednesday's Consumer Price Index (CPI), and Thursday's weekly jobless claims as potential market moving events. Also, on Wednesday the Fed's FOMC meeting concludes.