Bonds moved slightly higher this morning, after New Homes Sales came in weaker than expected.
The New Home Sales report showed a 7.5-month supply, which is worse than last month’s 7.3 reading. However, it is still an encouraging number, since it is a big improvement from January’s record high 12.4-month supply. Also in the news, Durable Goods Orders were reported in line with expectations.
Currently, Bonds are attempting to move above both the 50- and 200-day Moving Averages. I recommend floating for now, but it will be a challenge for Bonds to hold this ground. So be prepared to lock and protect recent gains if the situation changes.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Showing posts with label mortgage bonds. Show all posts
Showing posts with label mortgage bonds. Show all posts
Wednesday, October 28, 2009
Mortgage Market Comment
Bonds moved slightly higher this morning, after New Homes Sales came in weaker than expected.
The New Home Sales report showed a 7.5-month supply, which is worse than last month’s 7.3 reading. However, it is still an encouraging number, since it is a big improvement from January’s record high 12.4-month supply. Also in the news, Durable Goods Orders were reported in line with expectations.
Currently, Bonds are attempting to move above both the 50- and 200-day Moving Averages. I recommend floating for now, but it will be a challenge for Bonds to hold this ground. So be prepared to lock and protect recent gains if the situation changes.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
The New Home Sales report showed a 7.5-month supply, which is worse than last month’s 7.3 reading. However, it is still an encouraging number, since it is a big improvement from January’s record high 12.4-month supply. Also in the news, Durable Goods Orders were reported in line with expectations.
Currently, Bonds are attempting to move above both the 50- and 200-day Moving Averages. I recommend floating for now, but it will be a challenge for Bonds to hold this ground. So be prepared to lock and protect recent gains if the situation changes.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Tuesday, October 27, 2009
Mortgage Market Comment
Bonds are moving higher this morning but stay tuned…at 1:00pm ET, a whopping $44B in 2-year Notes are slated to be auctioned. If the auction is not well received, Bonds could move lower in a hurry.
In economic news, Consumer Confidence came in lower than expected as Americans continue to worry about the weak state of the labor markets.
On Capitol Hill, there could be a vote as early as today in the Senate to extend the $8,000 First Time Homebuyer tax credit. If passed, the bill will then go to the House on Thursday for approval.
For now, I will recommend to Cautiously Float but be aware of the looming auction results this afternoon, which could impact pricing. If anything changes, I will let you know.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In economic news, Consumer Confidence came in lower than expected as Americans continue to worry about the weak state of the labor markets.
On Capitol Hill, there could be a vote as early as today in the Senate to extend the $8,000 First Time Homebuyer tax credit. If passed, the bill will then go to the House on Thursday for approval.
For now, I will recommend to Cautiously Float but be aware of the looming auction results this afternoon, which could impact pricing. If anything changes, I will let you know.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Market Comment
Bonds are moving higher this morning but stay tuned…at 1:00pm ET, a whopping $44B in 2-year Notes are slated to be auctioned. If the auction is not well received, Bonds could move lower in a hurry.
In economic news, Consumer Confidence came in lower than expected as Americans continue to worry about the weak state of the labor markets.
On Capitol Hill, there could be a vote as early as today in the Senate to extend the $8,000 First Time Homebuyer tax credit. If passed, the bill will then go to the House on Thursday for approval.
For now, I will recommend to Cautiously Float but be aware of the looming auction results this afternoon, which could impact pricing. If anything changes, I will let you know.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In economic news, Consumer Confidence came in lower than expected as Americans continue to worry about the weak state of the labor markets.
On Capitol Hill, there could be a vote as early as today in the Senate to extend the $8,000 First Time Homebuyer tax credit. If passed, the bill will then go to the House on Thursday for approval.
For now, I will recommend to Cautiously Float but be aware of the looming auction results this afternoon, which could impact pricing. If anything changes, I will let you know.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Friday, September 4, 2009
Mortgage Bond Comment
Since the below comments came the bond market has dropped from the earlier highs. The reconmendation is to lock.
Stocks moved higher in early trading this morning, while Bonds started lower. However, both have since settled back towards unchanged levels.
In the news, 216,000 jobs were lost in August, which is better than the 230,000 job losses that were expected. While this appears to be good news, we must remember that these numbers are often revised later. So the jury is still out. What we do know for sure is that the overall unemployment rate climbed to 9.7% last month, which is more than double what it was two years ago and marks the highest level in 26 years.
Currently, Bonds are trading in a narrow range between resistance and support. I recommend floating for now, since it will take either a rally or sell-off in Stocks to push Bonds through one of these barriers. Remember, the market will be closed on Monday for the Labor Day holiday, so the next full day of trading will be next Tuesday.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Stocks moved higher in early trading this morning, while Bonds started lower. However, both have since settled back towards unchanged levels.
In the news, 216,000 jobs were lost in August, which is better than the 230,000 job losses that were expected. While this appears to be good news, we must remember that these numbers are often revised later. So the jury is still out. What we do know for sure is that the overall unemployment rate climbed to 9.7% last month, which is more than double what it was two years ago and marks the highest level in 26 years.
Currently, Bonds are trading in a narrow range between resistance and support. I recommend floating for now, since it will take either a rally or sell-off in Stocks to push Bonds through one of these barriers. Remember, the market will be closed on Monday for the Labor Day holiday, so the next full day of trading will be next Tuesday.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Bond Comment
Since the below comments came the bond market has dropped from the earlier highs. The reconmendation is to lock.
Stocks moved higher in early trading this morning, while Bonds started lower. However, both have since settled back towards unchanged levels.
In the news, 216,000 jobs were lost in August, which is better than the 230,000 job losses that were expected. While this appears to be good news, we must remember that these numbers are often revised later. So the jury is still out. What we do know for sure is that the overall unemployment rate climbed to 9.7% last month, which is more than double what it was two years ago and marks the highest level in 26 years.
Currently, Bonds are trading in a narrow range between resistance and support. I recommend floating for now, since it will take either a rally or sell-off in Stocks to push Bonds through one of these barriers. Remember, the market will be closed on Monday for the Labor Day holiday, so the next full day of trading will be next Tuesday.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Stocks moved higher in early trading this morning, while Bonds started lower. However, both have since settled back towards unchanged levels.
In the news, 216,000 jobs were lost in August, which is better than the 230,000 job losses that were expected. While this appears to be good news, we must remember that these numbers are often revised later. So the jury is still out. What we do know for sure is that the overall unemployment rate climbed to 9.7% last month, which is more than double what it was two years ago and marks the highest level in 26 years.
Currently, Bonds are trading in a narrow range between resistance and support. I recommend floating for now, since it will take either a rally or sell-off in Stocks to push Bonds through one of these barriers. Remember, the market will be closed on Monday for the Labor Day holiday, so the next full day of trading will be next Tuesday.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Thursday, September 3, 2009
Mortgage Bond Comment
Mortgage Bonds opened a little lower this morning, as Traders may be exercising caution ahead of today's Treasury Auction and tomorrow's official Jobs Report.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Bond Comment
Mortgage Bonds opened a little lower this morning, as Traders may be exercising caution ahead of today's Treasury Auction and tomorrow's official Jobs Report.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Monday, August 31, 2009
Mortgage Market Comment
Mortgage Bonds are starting the week slightly higher, but continue to face tough overhead resistance. Meanwhile, Stocks are attempting to shake off some worries from overseas, including sharp declines in China’s Stock market.
The manufacturing sector measuring Chicago Purchasing Managers Index (PMI) came in right at 50, quite a bit better than last month. A reading above 50 indicates expansion, while a reading below 50 indicates contraction, so this is a fairly positive sign for the beleaguered manufacturing sector.
There are no Treasury auctions scheduled for this week, however, Thursday’s auction announcement regarding next week's supply amount could shake things up.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
The manufacturing sector measuring Chicago Purchasing Managers Index (PMI) came in right at 50, quite a bit better than last month. A reading above 50 indicates expansion, while a reading below 50 indicates contraction, so this is a fairly positive sign for the beleaguered manufacturing sector.
There are no Treasury auctions scheduled for this week, however, Thursday’s auction announcement regarding next week's supply amount could shake things up.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Market Comment
Mortgage Bonds are starting the week slightly higher, but continue to face tough overhead resistance. Meanwhile, Stocks are attempting to shake off some worries from overseas, including sharp declines in China’s Stock market.
The manufacturing sector measuring Chicago Purchasing Managers Index (PMI) came in right at 50, quite a bit better than last month. A reading above 50 indicates expansion, while a reading below 50 indicates contraction, so this is a fairly positive sign for the beleaguered manufacturing sector.
There are no Treasury auctions scheduled for this week, however, Thursday’s auction announcement regarding next week's supply amount could shake things up.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
The manufacturing sector measuring Chicago Purchasing Managers Index (PMI) came in right at 50, quite a bit better than last month. A reading above 50 indicates expansion, while a reading below 50 indicates contraction, so this is a fairly positive sign for the beleaguered manufacturing sector.
There are no Treasury auctions scheduled for this week, however, Thursday’s auction announcement regarding next week's supply amount could shake things up.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Wednesday, August 26, 2009
Mortgage Bond Comment
Mortgage Bonds are trading near unchanged levels today and this comes after yesterday’s late day rally sparked by good results from the 2-year Treasury Note auction.
New Home Sales surged 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading.
I will continue to recommend Floating for now, but this afternoon the Treasury will auction more government debt and the results may influence pricing.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
New Home Sales surged 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading.
I will continue to recommend Floating for now, but this afternoon the Treasury will auction more government debt and the results may influence pricing.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Bond Comment
Mortgage Bonds are trading near unchanged levels today and this comes after yesterday’s late day rally sparked by good results from the 2-year Treasury Note auction.
New Home Sales surged 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading.
I will continue to recommend Floating for now, but this afternoon the Treasury will auction more government debt and the results may influence pricing.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
New Home Sales surged 9.6% in July from June’s reading, signaling that the housing market is stabilizing. Adding to the positive tone of the report was a drop in inventories, which now stands at a 7.5 month supply from last month's 8.8 month reading.
I will continue to recommend Floating for now, but this afternoon the Treasury will auction more government debt and the results may influence pricing.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Monday, August 10, 2009
Mortgage Comment
After a 4-week rally higher, Stocks are a little lower this morning, which is helping Mortgage Bonds trade higher so far.
Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.
For now, Bond prices are trading modestly higher. Therefore, I recommend floating.
Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.
For now, Bond prices are trading modestly higher. Therefore, I recommend floating.
Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Mortgage Comment
After a 4-week rally higher, Stocks are a little lower this morning, which is helping Mortgage Bonds trade higher so far.
Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.
For now, Bond prices are trading modestly higher. Therefore, I recommend floating.
Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Despite a number of economic reports this week as well as the Fed Policy announcement on Wednesday, the big news could be the Treasury auctions. If the buying of Treasuries is strong, we could see a nice improvement in Mortgage Bonds. However, a poor showing could cause the Bond market to suffer further.
For now, Bond prices are trading modestly higher. Therefore, I recommend floating.
Leonard Winslow, Branch Manager, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Monday, July 27, 2009
Market Comment
The Treasury debt hitting the market this week is taking an early toll on Mortgage Bonds. The auctions are competing for investor dollars and servicing the massive debt is also a concern for the health of the economy.
Oil continues to track the weakness in the US Dollar and has moved back up to near $70 a barrel, which is no help to Bonds either. New Home Sales will be released this morning, and if this report shows a slight improvement as expected, this would be welcome news.With the aforementioned supply coming to the market this week, Bonds will have a stiff headwind to fight.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Oil continues to track the weakness in the US Dollar and has moved back up to near $70 a barrel, which is no help to Bonds either. New Home Sales will be released this morning, and if this report shows a slight improvement as expected, this would be welcome news.With the aforementioned supply coming to the market this week, Bonds will have a stiff headwind to fight.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Market Comment
The Treasury debt hitting the market this week is taking an early toll on Mortgage Bonds. The auctions are competing for investor dollars and servicing the massive debt is also a concern for the health of the economy.
Oil continues to track the weakness in the US Dollar and has moved back up to near $70 a barrel, which is no help to Bonds either. New Home Sales will be released this morning, and if this report shows a slight improvement as expected, this would be welcome news.With the aforementioned supply coming to the market this week, Bonds will have a stiff headwind to fight.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Oil continues to track the weakness in the US Dollar and has moved back up to near $70 a barrel, which is no help to Bonds either. New Home Sales will be released this morning, and if this report shows a slight improvement as expected, this would be welcome news.With the aforementioned supply coming to the market this week, Bonds will have a stiff headwind to fight.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112
Wednesday, July 15, 2009
ALERT TO LOCK INTEREST RATE
Producer price Index came out this morning higher than expectations. Also Intel reported higher than expected earning and painted a rosy picture. Bonds have moved lower (rates higher) on this news. Bonds are down 53 Bps. Lock your rate. Lender should be repricing for the worse.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
ALERT TO LOCK INTEREST RATE
Producer price Index came out this morning higher than expectations. Also Intel reported higher than expected earning and painted a rosy picture. Bonds have moved lower (rates higher) on this news. Bonds are down 53 Bps. Lock your rate. Lender should be repricing for the worse.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
Thursday, July 2, 2009
Rate Watch 7/2/2009
Mortgage Bonds are up this morning after grim employment news was released. According to the Labor Department, 467,000 jobs were lost in June, in addition, the unemployment rate rose to 9.5%, its highest level since August 1983. Overall, the weak Job numbers indicate that the recession continues at concerning levels.
The European Central Bank held its benchmark interest steady at 1% to help stimulate the European economy. As a result, the US Dollar has strengthened significantly, which has caused a sharp decline in Oil prices today. The decline in Oil, in turn, is applying pressure to Stocks by pushing shares of energy lower.Currently, the weak job news has helped Mortgage Bonds climb to test a dual layer of resistance. I recommend floating for now, but be prepared to lock in the gains if Bonds are pushed lower. Remember, the markets will be closed tomorrow in observance of Independence Day. Have a safe and happy holiday
Leonard Winslow Dominion Trust Mortgage
434-760-2580 (cell)
leonad.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
The European Central Bank held its benchmark interest steady at 1% to help stimulate the European economy. As a result, the US Dollar has strengthened significantly, which has caused a sharp decline in Oil prices today. The decline in Oil, in turn, is applying pressure to Stocks by pushing shares of energy lower.Currently, the weak job news has helped Mortgage Bonds climb to test a dual layer of resistance. I recommend floating for now, but be prepared to lock in the gains if Bonds are pushed lower. Remember, the markets will be closed tomorrow in observance of Independence Day. Have a safe and happy holiday
Leonard Winslow Dominion Trust Mortgage
434-760-2580 (cell)
leonad.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
Rate Watch 7/2/2009
Mortgage Bonds are up this morning after grim employment news was released. According to the Labor Department, 467,000 jobs were lost in June, in addition, the unemployment rate rose to 9.5%, its highest level since August 1983. Overall, the weak Job numbers indicate that the recession continues at concerning levels.
The European Central Bank held its benchmark interest steady at 1% to help stimulate the European economy. As a result, the US Dollar has strengthened significantly, which has caused a sharp decline in Oil prices today. The decline in Oil, in turn, is applying pressure to Stocks by pushing shares of energy lower.Currently, the weak job news has helped Mortgage Bonds climb to test a dual layer of resistance. I recommend floating for now, but be prepared to lock in the gains if Bonds are pushed lower. Remember, the markets will be closed tomorrow in observance of Independence Day. Have a safe and happy holiday
Leonard Winslow Dominion Trust Mortgage
434-760-2580 (cell)
leonad.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
The European Central Bank held its benchmark interest steady at 1% to help stimulate the European economy. As a result, the US Dollar has strengthened significantly, which has caused a sharp decline in Oil prices today. The decline in Oil, in turn, is applying pressure to Stocks by pushing shares of energy lower.Currently, the weak job news has helped Mortgage Bonds climb to test a dual layer of resistance. I recommend floating for now, but be prepared to lock in the gains if Bonds are pushed lower. Remember, the markets will be closed tomorrow in observance of Independence Day. Have a safe and happy holiday
Leonard Winslow Dominion Trust Mortgage
434-760-2580 (cell)
leonad.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.com/leonard.winslow
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