Mortgage Market Comment

Bonds moved slightly higher this morning, after New Homes Sales came in weaker than expected.
The New Home Sales report showed a 7.5-month supply, which is worse than last month’s 7.3 reading. However, it is still an encouraging number, since it is a big improvement from January’s record high 12.4-month supply. Also in the news, Durable Goods Orders were reported in line with expectations.
Currently, Bonds are attempting to move above both the 50- and 200-day Moving Averages. I recommend floating for now, but it will be a challenge for Bonds to hold this ground. So be prepared to lock and protect recent gains if the situation changes.

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.