The Mortgage Man

Get more out of your mortgage experience!

Tuesday May 13, 2008

Today’s Financial Forecast

The retail sales report for April is out and shows that in spite of higher oil prices, consumers continued to open their wallets for other discretionary spending. The news is causing mortgage bonds to trade lower this morning. In addition, though auto sales were sluggish, retail sales rose 0.5% which is higher than the expected 0.2%. This news is good for the economy, but not so good for mortgage bonds.

Even though Mortgage Bonds are trading lower today, they are holding above the support level of the 25 day moving average and below the resistance level of the 100 day moving average. If you have an active mortgage loan waiting to lock the rate, I would recommend locking to protect yourself from potential losses in the market later today.

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