Market Comment
Mortgage Bonds are trading lower this morning following through from yesterday's decline. Inflation at the wholesale level in the form of the Producer Price Index (PPI) came in hotter than expected for the year-over-year reading and is weighing on the Bond markets.
Housing Starts and Building Permits were reported lower than expected as demand for housing has slowed over the past few months, due to the expiration of the Home Buyer Tax Credit and persistently high unemployment.
For now, I will recommend a Locking bias. As always, if there are any changes, I will get back to 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, V2563958, MLO-4817VA
Housing Starts and Building Permits were reported lower than expected as demand for housing has slowed over the past few months, due to the expiration of the Home Buyer Tax Credit and persistently high unemployment.
For now, I will recommend a Locking bias. As always, if there are any changes, I will get back to 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, V2563958, MLO-4817VA
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