Daily Market Comment

Mortgage Bonds are trading slightly higher and, for the moment, remain relatively close to the best prices of 2009.
This morning, Initial Jobless Claims met expectations, and Continuing Jobless Claims fell by 39,000. Once again, that drop is likely due to benefits expiring, rather than people finding jobs. Later today, the Treasury Department will announce next week's auctions, which could add volatility to the market, depending on how the announcement is received.
Currently, Bonds are near their highs for the year. Therefore I recommend locking, since there's presently a higher risk of Bond prices moving to the downside than there are potential gains available to be made on the upside.

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.