Mortgage Rates Charlottesville

It's been a wild morning for Mortgage Bonds so far, as they have traded in a 75-basis point range. Putting pressure on Bonds this morning was positive economic news from overseas, as well as the Treasury Department's announcement of a record auction of 3-year and 10-year Notes next week.
In other news, the ADP Report showed slightly more jobs lost in July than expected. Additionally, the ISM Services Index came in worse than expected. Stocks didn't like the news and moved lower, helping Bonds regain some ground.Overall, Bonds are sitting above their worst levels of the day. With underlying support nearby and the Treasury announcement behind us, I recommend floating as we watch to see if Bonds can stabilize and look to improve

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