Mortgage bonds are starting a little slow this morning; after 3 straight days of hard losses stock are attempting a rally drawing investment dollars out of bonds. The positive start for stocks seems a little counter intuitive considering all the bad economic news. Between lower future earnings guidance from Wal-Mart and Intel and the worst initial unemployment claims data since 2001; it will be interesting to see if Stock can hold up today.
Keep in mind at 10 Pacific the treasury is auctioning $10 Billion in 30-year Treasury Bonds. If this auction doesn't go well we might see mortgage bonds suffer later this today.
As always please feel free to contact me with any questions.
Have a great day!
Greg Anthony CMPS
As a Certified Mortgage Planning Specialist my goal is to expertly offer you the most up to date and innovative lending solutions while consistently exceeding your service expectations.
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