Good Morning,
I hope things are going well for you today.
In the markets this morning, Bonds received an initial boost this morning, but have moved lower once again, as some surprisingly good news on the housing market hit the wires.
In the news, Pending Home Sales rose in June for the fifth straight month, fueled by low home loan rates and bargain home prices. In addition, inflation came in tame in the PCE report. Meanwhile, Personal Spending came in slightly higher than estimated, while the Savings rate slipped a bit.
Currently, Mortgage Backed Securities are at their worst levels of the day. Therefore, I recommend locking right away. The way things are looking, rates appear to be deteriorating rapidly this morning. If the situation changes, I will certainly let you know. In the meantime, if there is ever anything that I can do for you, please let me know.
Tuesday, August 4, 2009
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