Daily Market Comment

Mortgage Bonds are trading lower to start the day, but improved from their worst levels seen earlier.
In other news, President Obama imposed a special tariff on Chinese tires late Friday to help address the job losses among US tire workers. As a result, there is some concern that China could unload some of their US security holdings, largely Mortgage Bonds, which would cause home loan rates to increase.
Bonds continue to trade near a key support level. I recommend floating for now, but any move away from this level could lead to added volatility. I will alert you if we need to change course.

Leonard Winslow, 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.