Market Comment
Mortgage Bonds started out with some early gains and then got a boost after a couple of economic reports hit the headlines.
Consumer Confidence was reported much lower than expectations, indicating that employment and struggling small businesses are weighing on the economy. In addition, the Case-Shiller Home Price Index rose in December, marking the seventh consecutive monthly increase.
For now, I recommend floating, but be ready to lock if the Treasury auction this afternoon changes the situation.
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
Consumer Confidence was reported much lower than expectations, indicating that employment and struggling small businesses are weighing on the economy. In addition, the Case-Shiller Home Price Index rose in December, marking the seventh consecutive monthly increase.
For now, I recommend floating, but be ready to lock if the Treasury auction this afternoon changes the situation.
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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