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
Showing posts with label Rate Watch. Bond Market. Show all posts
Showing posts with label Rate Watch. Bond Market. Show all posts
Tuesday, March 30, 2010
Friday, March 26, 2010
Market Comment
Mortgage Bonds have traded in a wild range over the last day…and with the Fed's Mortgage Backed Security buying program nearing an end, don't expect the volatility to slow.
In economic news, the final reading on Fourth Quarter Gross Domestic Product came in lower than the previous advanced reading. Also in the news, Consumer Sentiment was reported slightly better than expectations.
Currently, prices are trying to stabilize near support. Therefore, I recommend floating for now. But be prepared to lock if the market becomes volatile once again.
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
In economic news, the final reading on Fourth Quarter Gross Domestic Product came in lower than the previous advanced reading. Also in the news, Consumer Sentiment was reported slightly better than expectations.
Currently, prices are trying to stabilize near support. Therefore, I recommend floating for now. But be prepared to lock if the market becomes volatile once again.
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
Friday, March 19, 2010
Market Comment
Mortgage Bonds are lower today and pushed below support levels this morning, but have since moved back to near those levels. There are no economic reports due for release today, so Bonds will respond to technical signals and the trading action in Stocks.
Some of the selling pressure in Bonds comes on the heels of yet another credit rating agency raising concerns on the deteriorating credit profiles of AAA rated countries. Fitch Ratings, like Moody's a couple of days ago, says the U.S. has moved substantially closer to losing its AAA credit rating.
The much publicized health care bill being voted on this weekend could be the catalyst that ignites the correction in Stocks lower, which could help the Bond markets next week. I will start the day with a Floating recommendation, and as always, I will monitor the market action throughout the day.
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
Some of the selling pressure in Bonds comes on the heels of yet another credit rating agency raising concerns on the deteriorating credit profiles of AAA rated countries. Fitch Ratings, like Moody's a couple of days ago, says the U.S. has moved substantially closer to losing its AAA credit rating.
The much publicized health care bill being voted on this weekend could be the catalyst that ignites the correction in Stocks lower, which could help the Bond markets next week. I will start the day with a Floating recommendation, and as always, I will monitor the market action throughout the day.
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
Market Comment
Mortgage Bonds are lower today and pushed below support levels this morning, but have since moved back to near those levels. There are no economic reports due for release today, so Bonds will respond to technical signals and the trading action in Stocks.
Some of the selling pressure in Bonds comes on the heels of yet another credit rating agency raising concerns on the deteriorating credit profiles of AAA rated countries. Fitch Ratings, like Moody's a couple of days ago, says the U.S. has moved substantially closer to losing its AAA credit rating.
The much publicized health care bill being voted on this weekend could be the catalyst that ignites the correction in Stocks lower, which could help the Bond markets next week. I will start the day with a Floating recommendation, and as always, I will monitor the market action throughout the day.
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
Some of the selling pressure in Bonds comes on the heels of yet another credit rating agency raising concerns on the deteriorating credit profiles of AAA rated countries. Fitch Ratings, like Moody's a couple of days ago, says the U.S. has moved substantially closer to losing its AAA credit rating.
The much publicized health care bill being voted on this weekend could be the catalyst that ignites the correction in Stocks lower, which could help the Bond markets next week. I will start the day with a Floating recommendation, and as always, I will monitor the market action throughout the day.
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
Thursday, March 18, 2010
Market Comment
Mortgage Bonds are off their best levels, but are still trading slightly higher after a report showed that inflation remains quite low for now.
The Consumer Price Index, which measures inflation at the consumer level, came in just below expectations for February. Also in the news, Initial Jobless Claims were reported inline with expectations. Overall, however, the labor market continues to be very weak.
For now, I recommend floating, as I monitor the day's news. I will let you know if a change of course is needed.
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
The Consumer Price Index, which measures inflation at the consumer level, came in just below expectations for February. Also in the news, Initial Jobless Claims were reported inline with expectations. Overall, however, the labor market continues to be very weak.
For now, I recommend floating, as I monitor the day's news. I will let you know if a change of course is needed.
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
Market Comment
Mortgage Bonds are off their best levels, but are still trading slightly higher after a report showed that inflation remains quite low for now.
The Consumer Price Index, which measures inflation at the consumer level, came in just below expectations for February. Also in the news, Initial Jobless Claims were reported inline with expectations. Overall, however, the labor market continues to be very weak.
For now, I recommend floating, as I monitor the day's news. I will let you know if a change of course is needed.
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
The Consumer Price Index, which measures inflation at the consumer level, came in just below expectations for February. Also in the news, Initial Jobless Claims were reported inline with expectations. Overall, however, the labor market continues to be very weak.
For now, I recommend floating, as I monitor the day's news. I will let you know if a change of course is needed.
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
Tuesday, March 9, 2010
Market Comment
So far this morning, Mortgage Bonds are trading higher.
There are no economic reports due out today, but the Treasury Department will auction off $40 Billion worth of 3-Year Notes at 1 pm Eastern Time, which may move the markets depending on how it's received.
For now, I recommend floating, as I continue to monitor the markets. I will let you know if a change of course is warranted later in the day.
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
There are no economic reports due out today, but the Treasury Department will auction off $40 Billion worth of 3-Year Notes at 1 pm Eastern Time, which may move the markets depending on how it's received.
For now, I recommend floating, as I continue to monitor the markets. I will let you know if a change of course is warranted later in the day.
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
Market Comment
So far this morning, Mortgage Bonds are trading higher.
There are no economic reports due out today, but the Treasury Department will auction off $40 Billion worth of 3-Year Notes at 1 pm Eastern Time, which may move the markets depending on how it's received.
For now, I recommend floating, as I continue to monitor the markets. I will let you know if a change of course is warranted later in the day.
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
There are no economic reports due out today, but the Treasury Department will auction off $40 Billion worth of 3-Year Notes at 1 pm Eastern Time, which may move the markets depending on how it's received.
For now, I recommend floating, as I continue to monitor the markets. I will let you know if a change of course is warranted later in the day.
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
Wednesday, March 3, 2010
Market Comment
Yesterday, Bond prices dipped down to touch the 25-Day Moving Average before eventually climbing higher to close above the 100-day Moving Average. A similar pattern may be developing today.
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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
Market Comment
Yesterday, Bond prices dipped down to touch the 25-Day Moving Average before eventually climbing higher to close above the 100-day Moving Average. A similar pattern may be developing today.
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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
In the news today, the ADP Employment Report showed 20,000 private-sector jobs lost in February. The news comes just days before the government releases its official Jobs Report on Friday.
Currently, prices are attempting to hold onto support at the 100-Day Moving Average. Therefore, I recommend floating for now. But be prepared to lock if events later today require a change of course."
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
Monday, March 1, 2010
Market Comment
Mortgage Bonds are trading near unchanged levels, thanks to tame consumer inflation data. The Personal Consumption Expenditure Index met expectations for January, and the year-over-year rate remained well within the Fed's comfort zone.
In other news, Personal Income came in well below expectations, but Personal Spending was reported above expectations. The bump in spending came at the expense of savings, as the Personal Savings Rate fell to the lowest savings rate since October 2008.
For now, I recommend floating. But be prepared to lock, since the Bond is trading near a formidable ceiling of resistance at the 100-Day Moving Average. I will keep you posted on any major developments.
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
In other news, Personal Income came in well below expectations, but Personal Spending was reported above expectations. The bump in spending came at the expense of savings, as the Personal Savings Rate fell to the lowest savings rate since October 2008.
For now, I recommend floating. But be prepared to lock, since the Bond is trading near a formidable ceiling of resistance at the 100-Day Moving Average. I will keep you posted on any major developments.
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
Market Comment
Mortgage Bonds are trading near unchanged levels, thanks to tame consumer inflation data. The Personal Consumption Expenditure Index met expectations for January, and the year-over-year rate remained well within the Fed's comfort zone.
In other news, Personal Income came in well below expectations, but Personal Spending was reported above expectations. The bump in spending came at the expense of savings, as the Personal Savings Rate fell to the lowest savings rate since October 2008.
For now, I recommend floating. But be prepared to lock, since the Bond is trading near a formidable ceiling of resistance at the 100-Day Moving Average. I will keep you posted on any major developments.
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
In other news, Personal Income came in well below expectations, but Personal Spending was reported above expectations. The bump in spending came at the expense of savings, as the Personal Savings Rate fell to the lowest savings rate since October 2008.
For now, I recommend floating. But be prepared to lock, since the Bond is trading near a formidable ceiling of resistance at the 100-Day Moving Average. I will keep you posted on any major developments.
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
Friday, February 26, 2010
Market Comment
Mortgage Bonds remain near unchanged so far this morning, after the markets digested the economic news of the morning.
In the news today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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
In the news today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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
Market Comment
Mortgage Bonds remain near unchanged so far this morning, after the markets digested the economic news of the morning.
In the news today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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
In the news today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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
Wednesday, February 24, 2010
Market Comment
Bond prices touched the ceiling of resistance at the 100-Day Moving Average this morning, before retreating below the 25-Day Moving Average.
In the news, New Home Sales for January were reported below expectations. While weather was undoubtedly an issue, it does underscore the persistent weakness in the housing market.
Currently, Bonds have support nearby at both the 50- and 200-Day Moving Averages.
Therefore, I recommend floating for now, as I watch to see how Fed Chairman Bernanke’s Congressional testimony as well as today’s Treasury auction are received by the markets."
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
In the news, New Home Sales for January were reported below expectations. While weather was undoubtedly an issue, it does underscore the persistent weakness in the housing market.
Currently, Bonds have support nearby at both the 50- and 200-Day Moving Averages.
Therefore, I recommend floating for now, as I watch to see how Fed Chairman Bernanke’s Congressional testimony as well as today’s Treasury auction are received by the markets."
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
Market Comment
Bond prices touched the ceiling of resistance at the 100-Day Moving Average this morning, before retreating below the 25-Day Moving Average.
In the news, New Home Sales for January were reported below expectations. While weather was undoubtedly an issue, it does underscore the persistent weakness in the housing market.
Currently, Bonds have support nearby at both the 50- and 200-Day Moving Averages.
Therefore, I recommend floating for now, as I watch to see how Fed Chairman Bernanke’s Congressional testimony as well as today’s Treasury auction are received by the markets."
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
In the news, New Home Sales for January were reported below expectations. While weather was undoubtedly an issue, it does underscore the persistent weakness in the housing market.
Currently, Bonds have support nearby at both the 50- and 200-Day Moving Averages.
Therefore, I recommend floating for now, as I watch to see how Fed Chairman Bernanke’s Congressional testimony as well as today’s Treasury auction are received by the markets."
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
Monday, February 22, 2010
Daily Market Comment
Mortgage Bonds are starting the week slightly higher today after falling below the 200-Day Moving Average last week.
No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.
For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.
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
No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.
For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.
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
Daily Market Comment
Mortgage Bonds are starting the week slightly higher today after falling below the 200-Day Moving Average last week.
No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.
For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.
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
No economic reports are due today, but there will be plenty of news to watch this week, including a number of reports as well as Fed Chairman Ben Bernanke's testimony on monetary policy before Congress on Wednesday and Thursday. Treasury auctions are also spread throughout the week and could move the markets depending on how they're received.
For now, I recommend floating. But with all the news that's in store this week, things could change quickly. I will continue to monitor the situation and keep you posted on any major developments.
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
Friday, February 19, 2010
Market Comment
Mortgage Bonds are under continued selling pressure this morning, even in the face of relatively tame consumer inflation data.
The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.
Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.
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
The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.
Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.
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
Market Comment
Mortgage Bonds are under continued selling pressure this morning, even in the face of relatively tame consumer inflation data.
The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.
Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.
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
The Consumer Price Index, which measures prices US consumers pay, came in lower than expected for January. When volatile food and energy are removed from the equation, the Index actually fell. The last time that happened was 28 years ago.
Currently, the path of least resistance for Mortgage Bonds looks to be lower, after falling beneath the 200-day Moving Average yesterday. Therefore, I recommend locking.
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
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