FNMA 4.5% mortgage backed Security is UP on the day for this Montana Mortgage Lender...

Okay, so the 4.5% bond is UP on the day.  WE closed at a quote of $100.53 which is right at the 50 day moving average.  We will likely see rates hold steady in the morning.

Tomorrow we will see reporting on several things that can move the markets including GDP numbers and the Consumer Sentiment index.  

Remember that it is only when things are "not as expected" that the market moves.  Analysts expect the GDP to be reported right at 3.2%.  This is a little lower than the last reporting at 5.6%.  If numbers come in too much higher or lower than expected we could see some volatility in the morning.

Consumer sentiment is also a good one to watch.  We have seen some good signs that people are feeling better.  The University of Michigan puts out this report and it involves a survey of a few hundred average schmoes like myself with questions ranging from something like: How do you feel about your savings account balances? to What is your personal economic outlook for the future?

Also reporting is the Chicago Purchase Manager's Index.  Search www.chadcan.com to get a good explanation of this one but the gist: it is also a composite number from a survey of purchasing agents for a number of manufacturing companies in the midwest.

Have a great eve! 

Chad

Bozeman Montana Mortgage Application?  Go to www.metchad.com and check out some of the tools there.

Remember that tomorrow is the last day for the Home buying tax credit in Montana and nationwide.  You need to have a signed purchase agreement by the end of the day!

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Chad Schauers
Montana Mortgage Lender, Bozeman Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com