Mortgage Bonds are trading a little lower as US Stocks move higher in anticipation of today's big Facebook Initial Public Offering (IPO). Also weighing on Bonds is the lack of US economic reports and no real news headlines out of Europe.
For today, I am recommending a Floating bias as Mortgage Bonds have moved above several key technical layers of resistance. However, I will carefully watch for any reversal signs, which could pressure home loan rates higher.Have a great weekend!
Leonard Winslow
Direct: 434-760-2580
E-fax: 434-688-0496
943 Glenwood Station Lane, Suite 200
Charlottesville, Va. 22901
mailto:leonard.winslow@newamerican.com
web: www.newamerican.com/leonard.winslow
mailto:leonard.winslow@newamerican.com
web: www.newamerican.com/leonard.winslow
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License #MLO-4817VA-NMLS #265272
License #MLO-4817VA-NMLS #265272
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