Market Comment
Mortgage Bonds are under selling pressure as Stocks pushed higher, due in part to a better-than-expected Institute of Supply Management Index this morning.
In the news, Personal Income for December was reported slightly above estimates, but Consumer Spending came in slightly below expectations as Americans continue to focus on saving and paying down debt.
Overall, the path of least resistance for Bond prices is lower. Therefore, I recommend locking in recent gains.
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, Personal Income for December was reported slightly above estimates, but Consumer Spending came in slightly below expectations as Americans continue to focus on saving and paying down debt.
Overall, the path of least resistance for Bond prices is lower. Therefore, I recommend locking in recent gains.
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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