Market Comment

Mortgage Bonds are near unchanged from yesterday afternoon, as they remain just above the 200-Day Moving Average.
In the news, Initial Jobless Claims came in at 482,000, which was significantly worse than expected and reversed the trend of lower numbers each week. Remember, we need to see Initial Claims below 400,000 per week to see stabilization in the Unemployment Rate.For now, I recommend floating. But be prepared to lock if the situation changes, especially with the Treasury Department announcing the size of next week's auctions later today. I will keep you posted.

Leonard Winslow, New American Mortgage, Charlottesville
434-760-2580 (cell)
leonard.winslow@newamerican.com
www.newamerican.com/leonard.winslow
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