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Daily Mortgage Blog

March 17, 2010

Yesterday, Mortgage Bonds got a nice boost after the Fed announced no changes to the Fed Funds Rate. So far today, Bond prices are battling to hold on to those gains.

In other news, the Producer Price Index (PPI), which gauges inflation at the wholesale level, was reported well below expectations and at the largest monthly decline since July 2009.

Currently, Bonds are sitting above a triple layer of support formed by the 25-, 50-, and 100-day Moving Averages. I recommend floating for now, as long as the Bond can remain above support. I will let you know if a change of course is needed.

Sincerely,

Rodney Roloff
DRE #1142903
Director of Sales
Cal Coast Financial Corp
Office: (510) 456-3008
Mobile: (510) 589-4096
Fax: (866) 671-8220
rod@calcoastmtg.com
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