Market Comment

Mortgage Bonds are lower this morning, adding to yesterday's sell-off.
In the news, the ADP Employment Report showed a loss of 169,000 private sector jobs in November. This was the least amount of job losses they have reported since July 2008, but it does mark 22 consecutive months of jobs lost.
Currently, technical readings indicate further selling pressure in Bonds. With the next clear floor of support 75 basis points beneath current levels, I recommend locking at this time.

Leonard Winslow, New American Mortgage
434-760-2580 (cell)
leonard.winslow@newamerican.com
Licensed by the Virginia State Corporation Commission. License #: MC-5112.