Good Afternoon,
A quick update on today's events. Mortgage Bonds are continuing to improve so far today, following the pricing gains seen since Friday's weak Jobs Report. Stocks are also trading sharply higher so far today after the G-20, a group of finance ministers and central bank governors from 20 world economies, pledged to keep aid flowing to global economies until a recovery was assured.
There are no economic reports today but there is plenty of supply hitting the market via the Treasury auctions, which could weigh on Bond prices. Also on Friday, in case you were not aware, President Obama signed the extended and expanded Homebuyer Tax Credit.
I recommend floating mortgage rates for now, but I will be watching closely to see how today's auction results impact trading. If a change of course is needed, I will certainly let you know. In the meantime, I hope that you enjoy your day and if there is ever anything that I can do for you, please let me know.
No comments:
Post a Comment