Market Comment
Mortgage Bonds are slightly lower this morning, while Stocks have moved higher.
In the news, the Pending Home Sales report came in better than expected, and the Institute of Supply Manager's Index was reported slightly lower than expected. Thus far, the reports have not impacted Bonds.
Currently, Bond prices remain overbought, as they have for the past few weeks. I recommend floating for now to see how prices behave near the current ceiling of resistance, but be prepared to lock if they move lower.
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 the news, the Pending Home Sales report came in better than expected, and the Institute of Supply Manager's Index was reported slightly lower than expected. Thus far, the reports have not impacted Bonds.
Currently, Bond prices remain overbought, as they have for the past few weeks. I recommend floating for now to see how prices behave near the current ceiling of resistance, but be prepared to lock if they move lower.
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.
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