Market Comment

Bonds have been trading recently between support at the 200-Day Moving Average and resistance at the 50- and 100-Day Moving Averages…which means they could be primed for a breakout in either direction.

In today's news, Pending Home Sales for December were up significantly from November's reading and up 10.9% over December 2008, as homebuyers take advantage of today's low rates.
Currently, Bond prices are up against a dual ceiling of resistance. Therefore, I recommend locking.

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