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Mortgage Bonds are headed lower this morning, after touching a very strong ceiling of resistance at their 100-Day Moving Average.
Pressuring Mortgage Bonds lower was news that Existing Home Sales came in better than expectations. Additionally, the inventory of unsold homes remained lofty, but was reported at its best level in a year. Overall, the housing market continues to show signs of stabilization.
Currently, Bond prices continue to struggle at the 100-Day Moving Average. Therefore, I recommend locking. I will continue to monitor the day's news and keep you informed of any major developments.
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.
Pressuring Mortgage Bonds lower was news that Existing Home Sales came in better than expectations. Additionally, the inventory of unsold homes remained lofty, but was reported at its best level in a year. Overall, the housing market continues to show signs of stabilization.
Currently, Bond prices continue to struggle at the 100-Day Moving Average. Therefore, I recommend locking. I will continue to monitor the day's news and keep you informed of any major developments.
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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