Good Morning,
Mortgage Bonds are slightly higher, but off their best levels of the morning.
In the news, the Preliminary Gross Domestic Product reading for the 3rd Quarter was reported in line with expectations, while Consumer Confidence was reported slightly better than expected. Also, the Case-Shiller Index for September reported a slight rise in home prices in the 20 largest US cities, marking the 5th consecutive month of price increases.
Based on where Bond prices are right now in relation to resistance and historic highs, I recommend locking in recent gains. Rates will be moving up, so missing out on the gains while trying to find more gain, may prove costly. If the situation changes, I will certainly let you know. In the meantime, I truly 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.
No comments:
Post a Comment