Market Comment
Mortgage Bonds are slightly higher this morning, while Stocks are lower in response to weaker than expected sales from General Electric and IBM. Additionally, Bank of America posted its first loss for the year.
In other news, Industrial Production and Capacity Utilization were reported higher than expectations. The up-ticks in these reports are modestly positive economic signals. Consumer Sentiment, on the other hand, was reported lower than expectations.
Currently, prices are sitting above the 50-day Moving Average. I recommend floating for now, but be prepared to lock if the situation changes. 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 other news, Industrial Production and Capacity Utilization were reported higher than expectations. The up-ticks in these reports are modestly positive economic signals. Consumer Sentiment, on the other hand, was reported lower than expectations.
Currently, prices are sitting above the 50-day Moving Average. I recommend floating for now, but be prepared to lock if the situation changes. 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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