And We're Off

By
Mortgage and Lending with Finance Of America NMLS #311662

The new year kicks off with Mortgage Bonds trading slightly higher as Stocks are lower, taking a break after finishing 2013 at record closing levels.  The benchmark 4% coupon continues to trade in a sideways range with no clear catalyst to push prices higher. 

The Labor Department reported this morning that Weekly Initial Jobless Claims fell by 2K to 339K, above the 333K expected.  On December 28, long term benefits for those collecting unemployment insurance expired leaving 1.3 million Americans without weekly checks.  It is likely that Congress will compromise and do something to extend these benefits.

The ISM Index most high-impact economic reports could spark more Bond Market volatility as the decision to taper further will be dependent on the economic data.

 

Technically, as mentioned, the Bond continues to trade between support and resistance levels.  We will continue to carefully float, but as always, stay tuned to the market throughout the session for any sudden changes. 

2014

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

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mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

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