Bond markets opened up in early trading and continue to improve this morning. It is possible we will see an improved rate sheet mid day.  Were it not for what are probably irrational investor fears about a European "debt crisis", bonds would have probably worsened today on news that April Consumer Confidence was up to a reading of 57.9 vs expectations of a 53.5 reading and a March reading of 52.3.  However, the political drama persists around the measures Greece will be forced to take to gets it budget under control and develop a plan to repay its debt.  Also the extended public haggling among European leaders over what Greece will need to do is causing attention to be paid to the other European countries that have debt problems such as Portugal, Spain and Ireland.  At the end of the day there is probably almost no one who really expects the European Union will allow Greece to default on its debt.  For that reason, it is probably risky to bet on significant improvement in mortgage rates as a result of the Greek crisis.  In the background of the drama in Europe, companies continue to report better than expected quarterly earnings, with Texas Instruments, 3M and DuPont all beating estimates.