I have been trying to increase my web presence lately...Did you know that there were this many social networks? (see below) There are also about seven more that I can think of that are not on here. WOW. This is not to mention all the other ones that are out there. Dang.
SO the FNMA 4.5% bond closed the day UP about 19 basis points to $101.22.
The Dow Fell 113 points to sit right there at 10,782. There were some fantastic days in the market this week that I am sure pushed some traders to want to preserve profit by pulling some money out for the weekend.
Look for possible rate erosion tomorrow as the bonds are ripe for profit taking and we don't really have any economic reports due out that will sway them one way or another. The GREAT news: There is still quite a bit of "safe haven" seeking money coming into the bond market. This continues to tell us that investors have put faith again in the mortgage backed securities market. Traditionally, mortgage backed securities were a safe bet and that reputation was ruined with the "Mortgage Meltdown" a few years ago. It is interesting to see that the first faith to be restored is in the securities that represent mortgages. Faith in the Real Estate Market in general is coming slowly.
Cheers!
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Montana Mortgage Lender, Bozeman, Montana
Personal Cell: 406 799 8613
Personal Email: metchad@gmail.com
