Mortgage Update April 20 2016

“Mortgage Bonds are trapped in a sideways pattern beneath a ceiling of resistance at 52-week highs and support at a slew of Moving Averages. In housing news, March Existing Home sales rose 5.1% from February after yesterday’s weak reading from Housing Starts. With mortgage rates just above all-time lows, I am recommending locking in the short-term, two to three weeks out. For brand new files or if you can withstand the risk at current lofty levels for Mortgage Bonds, carefully floating is recommended.”

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