Market Comment
Mortgage Bonds are trading lower, after yesterday's failed attempt to break above the strong ceiling of resistance at the 50-Day Moving Average.
In the news, Greece asked the European Union and International Monetary Fund to activate its huge bailout. The news is relieving some of the uncertainty in the markets. Here at home, Durable Goods Orders grew at its fastest rate since December 2007 when volatile transportation numbers are excluded. New Home Sales also experienced a huge increase and beat expectations in March.
For now, I recommend floating, as I monitor the market's activity. But be prepared to lock if a change of course is necessary.
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 the news, Greece asked the European Union and International Monetary Fund to activate its huge bailout. The news is relieving some of the uncertainty in the markets. Here at home, Durable Goods Orders grew at its fastest rate since December 2007 when volatile transportation numbers are excluded. New Home Sales also experienced a huge increase and beat expectations in March.
For now, I recommend floating, as I monitor the market's activity. But be prepared to lock if a change of course is necessary.
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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