Market Comment

Mortgage Bonds extended their gains yesterday and remain higher so far today. There are no economic reports due out today, so activity in the Stock market may have an even greater influence than normal on Bonds. Should Stocks break above resistance, it could put selling pressure on Bonds. Currently, Mortgage Bonds are up against a tough ceiling of resistance, and in an overbought state. I recommend floating for now, but the situation could change quickly, so be prepared to lock.

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, V2563958, MLO-4817VA