Market Comment

The Fed is center stage this morning, and will continue to be for the next few days. Fed Chairman Ben Bernanke is expected to be confirmed to a second term later this week. In addition, the Fed's comments for the Fed Funds Rate and their Mortgage Backed Security purchase program could have a big impact on the markets on Wednesday.
In today's news, Existing Home Sales for December were weak, likely due to individuals who would have normally purchased in December moving their transactions into October to ensure they'd benefit from the tax credit.I recommend floating for now, as Bonds continue to remain between important technical levels. I will let you know if anything changes.

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