Mortgage bonds are down again for the third day in a row. Successfully giving back nearly all the rate gains we had seen last week. Why you ask are did we lose steam on that amazing rate rally, well watch the video to find out. I’m moving to a cautiously floating stance as we near the bottom end of the new trading channel. Today’s news held for us national home price levels and consumer confidence numbers, plus we kick off the first of 99 billion in auctions today.
This is going to be one of those strap in and hold on kind of weeks. More economic news than should be allowed in one week, started today. It all comes together on Friday with the Jobs Report and Unemployment Number. Mortgage bonds are off this morning, on rising inflationary numbers. I suggest carefully floating today, but being prepared to lock at a break below the S1 level outlined in the charts. Watch the video.
Hang on this is going to be a wild week. With Mortgage Bonds at the best levels of the year, and a complete line up of market moving data, finishing off with the Jobs Report, this is going to be a crazy one. Watch the video and give me some feed back on your take of whats happening with the economy right now….
Carefully Floating is my position for the week!
Overall this was a pretty good week, we lost a little ground in interest rate, but 3 bond auctions went off all having good results. There is a new trend developing in the rate market watch the video to see. Also check out a couple new bill looking at being introduced to Congress. Am I Locking or Floating????
This week we have employment numbers coming out and a technical battle at the 200 day moving average taking place, watch the video to find out if I’m locking or floating. Also what happened to rates last week!!?!
End of QE 2 this week quite possibly spells the end of low mortgage rates as we know it. Expect major volatility this week with major reports and 4th of July light trading volume. MBS are taking a beating already, watch the video to get all the details you do not want to be caught off guard this week…..Find out if i’m floating or locking….
Check out this video on this mornings recent MBS activity….Floating both long and short-term now…
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Rates stay pretty much unchanged this week, with little economic news reported. Take a look at the chart and notice how a crossroad is emiment in the very near future. MBS are near unchanged today…lock short, float long.
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