Good Afternoon,
I hope this note finds your day going well so far and that your month is off to a great start as well.
Despite news that General Motors is heading for bankruptcy court, Stocks are starting off strong today after China's manufacturing expanded for the third straight month--signaling that the worldwide recession may be ending.
Also today, Personal Spending declined slightly in May, while Personal Income came in better than expectations thanks in part to the economic stimulus package. Overall, indications are that the market may be in the beginning of a bottoming process. But, this process will likely be marked by volatility and confusion, which means it's more important than ever to follow the advice of a knowledgeable mortgage professional who tracks the market daily.
Currently, prices are more than 100 basis points (1%) above the next floor of support, which means they could fall significantly if Stocks continue to climb. Rather than risk losing the gains of the last few days, I recommend locking now! I will certainly keep you posted of any changes or newsworthy developments.
In the meantime, I hope that you have a great rest of your day. If there is ever anything that I can do for you, please let me know.
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