Well last week was a perfection in calls all the way to Fri when the market did something UNEXPECTED, it didnt do a sell off before the holiday weekend. While I am happy about that I am also wondering what is to come for this week and beyond. Logic and history tell me the bonds are likely in a position for a rally. Albeit small I still firmly beleive rates may see yet another slight improvement and if not enough movement for the rate to improve definitely enough for the pricing to improve.
I am simply amazed that the FNMA 4.0 coupon is now showing RESISTANCE at 105.5 and likely 106 is the next glass cieleing to test.
What will come tomorrow?
I am guessing we may test the 106 mark.
Regardless this is simply a FANTASTIC time to be in the market to refinance or purchase so buyers and homeowners take NOTE this may be that second and last opportunity to take advantage of very low fixed rates!
Comments(4)