Market Comment
Mortgage Bonds have traded in a wild range over the last day…and with the Fed's Mortgage Backed Security buying program nearing an end, don't expect the volatility to slow.
In economic news, the final reading on Fourth Quarter Gross Domestic Product came in lower than the previous advanced reading. Also in the news, Consumer Sentiment was reported slightly better than expectations.
Currently, prices are trying to stabilize near support. Therefore, I recommend floating for now. But be prepared to lock if the market becomes volatile once again.
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 economic news, the final reading on Fourth Quarter Gross Domestic Product came in lower than the previous advanced reading. Also in the news, Consumer Sentiment was reported slightly better than expectations.
Currently, prices are trying to stabilize near support. Therefore, I recommend floating for now. But be prepared to lock if the market becomes volatile once again.
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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