Timothy Geithner Overprices Home

US SecretaryTreasurer and obvious financial genius Timothy Geithner overpriced his home listed in Feb HIGHER than 2006 values. Take 4 minutes to watch this video then get back to work :)

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Home Crisis Investigation
http://www.thedailyshow.com/
Daily Show Full Episodes Political Humor Healthcare Protests

Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com

Timothy Geithner Overprices Home

US SecretaryTreasurer and obvious financial genius Timothy Geithner overpriced his home listed in Feb HIGHER than 2006 values. Take 4 minutes to watch this video then get back to work :)

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
Home Crisis Investigation
http://www.thedailyshow.com/
Daily Show Full Episodes Political Humor Healthcare Protests

Rob Alley, Realtor at Keller Williams Charlottesville
540-250-3275 (cell)
roballeyrealtor@gmail.com
http://www.robsellscharlottesville.com
http://www.forestlakesliving.com
http://www.charlottesvillevarealestate.blogspot.com
http://www.charlottesvilleshortsale.com
http://www.theaverygroup.com

Daily market Comment

Mortgage Bonds are trading modestly higher this morning, thanks in part to the recent pullback in Stocks.
In the news, the ADP Employment report came in worse than expected. Also this morning, Revised Productivity for the 2nd quarter finished near expectations and showed the largest gain in nearly six years. This emphasizes that businesses are maximizing output from their current staff, and the efficiency gains help to curb inflation--which is good for Bonds.
Bonds have enjoyed a nice move higher and are now testing a price peak from July 31st. I recommend floating for now, but be prepared to lock if the situation changes.
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

Daily market Comment

Mortgage Bonds are trading modestly higher this morning, thanks in part to the recent pullback in Stocks.
In the news, the ADP Employment report came in worse than expected. Also this morning, Revised Productivity for the 2nd quarter finished near expectations and showed the largest gain in nearly six years. This emphasizes that businesses are maximizing output from their current staff, and the efficiency gains help to curb inflation--which is good for Bonds.
Bonds have enjoyed a nice move higher and are now testing a price peak from July 31st. I recommend floating for now, but be prepared to lock if the situation changes.
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

Mortgage Bond Comment

After some up-and-down trading, Mortgage Backed Securities are at near unchanged levels this morning, while Stocks are now down.
In the news, Pending Home Sales more than doubled expectations last month, making July the sixth consecutive month of gains. This marks the longest streak on record and bodes well for the housing industry. Also this morning, the ISM Index came in at its highest reading since June 2007, indicating some nice growth in the manufacturing sector.Currently, Stocks are down, while Mortgage Bonds have improved from their worst levels earlier. I recommend floating for now to see if they can continue to improve.

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

After some up-and-down trading, Mortgage Backed Securities are at near unchanged levels this morning, while Stocks are now down.
In the news, Pending Home Sales more than doubled expectations last month, making July the sixth consecutive month of gains. This marks the longest streak on record and bodes well for the housing industry. Also this morning, the ISM Index came in at its highest reading since June 2007, indicating some nice growth in the manufacturing sector.Currently, Stocks are down, while Mortgage Bonds have improved from their worst levels earlier. I recommend floating for now to see if they can continue to improve.

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.