Market Comment

Bond prices have been volatile this morning, starting the day slightly higher before dropping 41 basis points and then improving again slightly.

In the news, the Case-Shiller Index showed that home prices appear to be stabilizing. There are still a lot of great opportunities for buyers, especially when you factor in the low rates, affordable home prices, and Homebuyer Tax Credit. But this alignment of stars won't last.

Currently, the Bond is trading between important levels of support and resistance. Therefore, I recommend floating for now. I will let you know if a change of course is necessary.

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