Market Comment
Mortgage Bonds enjoyed a nice day yesterday, but the gains were halted at a strong ceiling of resistance that prices have been battling for weeks. And so far this morning, prices are near unchanged.
In the news, the Consumer Price Index came in below expectations for the first month-over-month decline since March 2009. When volatile food and energy prices are removed from the equation, the annual core index came in at its lowest level since January 1966.
I recommend floating for now. But with prices facing tough overhead resistance and the markets remaining volatile, be prepared to lock if the situation changes.
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 Consumer Price Index came in below expectations for the first month-over-month decline since March 2009. When volatile food and energy prices are removed from the equation, the annual core index came in at its lowest level since January 1966.
I recommend floating for now. But with prices facing tough overhead resistance and the markets remaining volatile, be prepared to lock if the situation changes.
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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