The Mortgage Man

Get more out of your mortgage experience!

Wednesday June 18, 2008

Fedex delivers a short term rally to the bond market.

Hey gang, it’s after 6:00, so this is less of a forecast and more of a wrap up for the day, but here it goes.

Stocks were trading down today due at least in part to a less than stellar quarterly report from FedEx.  Since there was no other significant economic news, mortgage bonds rallied a bit on this Dow Jones down turn.  Overall, trading with mortgage bonds was positive today, unfortunately not positive enough to cancel out the recent sell off of the last 10 days or so, but hey…we’ll take what we can get.

If you have an active mortgage loan that is not yet locked, you might want to watch the market to see if you can make up a little bit.  If you are already locked, don’t sweat it.  The gains weren’t enough to lose sleep over.

I’ll try to post earlier in the day tomorrow so it might actually help you.  Thanks for checking in.

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