Thursday, October 29, 2009

Daily Market Comment

Mortgage Bonds are lower, but much improved from their worst levels of the morning.
In the news, GDP rose higher than estimated for the first gain in a year and the strongest reading in two years. However, that number may be inflated by the recent Cash for Clunkers and $8,000 first-time homebuyer programs. Also today, Initial Jobless Claims were reported "less bad" than expected, and Continuing Jobless Claims fell to a 7-month low--but this low is likely due to benefits expiring rather than people finding jobs.
For now, I recommend floating, but be prepared to lock if things get rocky this afternoon due to the Treasury Department's auction of 7-year Notes.

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.

0 comments:

Post a Comment

Pages

About me

Blog Archive