Rates have inched higher

Helping Stocks and hurting Bonds and mortgage rates this morning was a better-than-expected Jobless Claims number along with comments from the Wall Street Journal that "fears of a double dip recession are exaggerated."

Late Wednesday night the Senate followed the lead of the House of Representatives and voted to extend the closing deadline for the popular homebuyer tax credit that was scheduled to expire yesterday at midnight. Once President Obama signs the Homebuyer Assistance and Improvement Act of 2010, which he is expected to do next week, homebuyers will have until September 30 to close on their home purchase and still qualify for the tax credit (as long as they signed their sales contract by April 30, 2010).