Bond Market Comment

Mortgage Bonds are trading higher so far this morning, after trading lower yesterday.
The Home Price Index came in at its best reading in nearly twelve months and the first month-over-month improvement in three years. This is good news, especially when combined with the last few months of improved Existing and New Home Sales.. The Treasury Department's auction of $42 Billion in 2-yr T Notes happens today and this could give direction to bonds.
Be ready to lock if this auction is not received well.

Leonard Winslow, Dominion Trust Mortgage 434-760-2580 (cell)
leonard.winslow@dominiontrust mortgage.com
www.dominiontrustmortgage.com/leonard.winslow