Mortgage Comment

After a 4-week rally higher, Stocks are a little lower this morning, which is helping Mortgage Bonds trade higher so far.
Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.
For now, Bond prices are trading modestly higher. Therefore, I recommend floating.

Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.