My New Blog

Daily Mortgage Update

March 31, 2010

Good Morning

Today’s 1 minute Video Update is on Last Days for the cheapest FHA loans

http://www.agoodlender.com/MyBlog

The Bond market got a boost this morning after the ADP report indicated that 23,000 jobs were lost in March, well below the 40,000 that were expected to be created. The Chicago Purchasing Managers Index also helped Bonds improve when it was reported lower than expected.

In other news, the Fed's Mortgage Backed Security purchase program ends today. And there is a growing sentiment amongst Fed members to start trimming the balance sheet and selling Mortgage Bonds in the future, which will push rates higher over time.

Currently, Bonds are trading between important levels of resistance and support. I recommend floating for now, as I watch Bonds very carefully...especially now that the Fed is no longer providing a safety net.

Rodney Roloff

Director of Sales

CA  DRE #1142903

Cal Coast Financial Corporation

39355 California Street; Suite 300

Fremont; CA  94538

(510) 456-3008