Market Comment
Mortgage Bonds are trading slightly lower this morning, but are up from their worst levels of the session.
In the news, the Reserve Bank of Australia unexpectedly hiked the country's benchmark interest rate, saying they felt it was safe to start cutting back on economic stimulus. Stocks are higher around the globe, as Traders see this as a sign that the global economy is on better footing.I recommend floating for now, but be prepared to lock. With Stocks building on their positive momentum and another record Treasury auction today, Mortgage Bonds could come under more pressure. I will keep you posted.
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, the Reserve Bank of Australia unexpectedly hiked the country's benchmark interest rate, saying they felt it was safe to start cutting back on economic stimulus. Stocks are higher around the globe, as Traders see this as a sign that the global economy is on better footing.I recommend floating for now, but be prepared to lock. With Stocks building on their positive momentum and another record Treasury auction today, Mortgage Bonds could come under more pressure. I will keep you posted.
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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