Good Afternoon,
Mortgage Bonds are slightly higher and are again testing resistance after a Thanksgiving-like serving of economic data hit the wires this morning.
In the news, the Fed's preferred gauge of inflation--the Core Personal Consumption Expenditure--rose more than expected. Also, New Home Sales, Personal Spending, and Personal Income all came in above expectations. Still, Durable Goods Orders for October were reported well below expectations, which illustrates that consumers are still hesitant to make large purchases.
Overall, Bond prices have been on a nice roll recently. But with prices at a ceiling, the risks of floating appear greater than the rewards of locking. Therefore, I recommend locking at this time so that recent gains are not lost. 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.
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