The Mortgage Man

Get more out of your mortgage experience!

Tuesday June 3, 2008

Mortgage bonds make a slight recovery.

Early in the trading day, the mortgage bonds were hovering right around the 200 day moving average leading us to wonder if the downward spiral of last week was going to make a recovery.  This afternoon has been decidedly better for mortgage bonds, and at the time of this post, they are trading a 30 basis points above the 200 day moving average.

Under normal circumstances, I would not be very excited about news like that.  But, given the hard slide downward last week, anything above a moving average is good (even if it is just the 200 day moving average).

There was no significant economic news out today, so the bond market will go at its own pace with the other financial markets.

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