Market Comment
Mortgage Bonds started the day higher, adding to yesterday's gains, and then received an additional boost on a very weak Consumer Confidence report.
The Case Shiller Index revealed that home prices in July rose 0.6% and have moved up 3.2% from July of 2009. Although the pace of the gain was slower than the 4.2% increase seen in June, it's still is a positive, and an encouraging sign.
For now, I will continue to recommend a Floating bias, as bonds are being bought up on the possibility of more Quantitative Easing.
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
The Case Shiller Index revealed that home prices in July rose 0.6% and have moved up 3.2% from July of 2009. Although the pace of the gain was slower than the 4.2% increase seen in June, it's still is a positive, and an encouraging sign.
For now, I will continue to recommend a Floating bias, as bonds are being bought up on the possibility of more Quantitative Easing.
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
Comments
Post a Comment