Daily Market Comment
Mortgage prices are lower this morning, but they have shown some improvement after bouncing off the 200-day Moving Average.
In the news, strong earnings reports from Intel and JPMorgan Chase pushed Stocks sharply higher and put pressure on Bonds. Also hurting Bonds was the Retail Sales report, which came in better than expected but still looked dismal at best.
Later today, the Fed will release the minutes from their last meeting. I recommend floating for now but be prepared to lock, since the meeting minutes have the potential to move the markets--especially if there are any comments on future inflation.
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.
In the news, strong earnings reports from Intel and JPMorgan Chase pushed Stocks sharply higher and put pressure on Bonds. Also hurting Bonds was the Retail Sales report, which came in better than expected but still looked dismal at best.
Later today, the Fed will release the minutes from their last meeting. I recommend floating for now but be prepared to lock, since the meeting minutes have the potential to move the markets--especially if there are any comments on future inflation.
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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