Market Comment
Mortgage Bonds remain near unchanged so far this morning, after the markets digested the economic news of the morning.
In the news today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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 today, Gross Domestic Product for the 4th Quarter was reported at the best reading in more than 6 years. Also, Existing Home Sales came in less than expected and the inventory of unsold homes rose to a 7.8-month reading.
For now, I recommend floating, as the Bond battles a tough ceiling of resistance at the 100-day Moving Average. I will let you know if a change of course is needed.
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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