Market Comment
Mortgage Bonds are trading higher after a round of mixed economic reports this morning.
In the news, the Producer Price Index, which measures inflation at the wholesale level, was tame for the month of April. In other reports, Housing Starts in April rose above expectations to the highest level since October 2008, while Building Permits fell short of expectations. Although the overall data on housing is still mixed, this represents a good time for long-term investment in the housing market.
For now, I recommend floating, as I monitor the situation for you.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
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, the Producer Price Index, which measures inflation at the wholesale level, was tame for the month of April. In other reports, Housing Starts in April rose above expectations to the highest level since October 2008, while Building Permits fell short of expectations. Although the overall data on housing is still mixed, this represents a good time for long-term investment in the housing market.
For now, I recommend floating, as I monitor the situation for you.
Leonard Winslow, New American Mortgage, Charlottesville
NMLS # 265272
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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