Monday, November 30, 2009

A Busy Week Ahead - 30 November to 4 December

Mortgage Bonds are currently testing tough resistance levels. With only $211 billion left to purchase in the Mortgage Backed Security purchase program, it could be a hard to close and trade above those levels. If this week’s economic data is weak, MBS may be able to close above those levels. The Employment Report on Friday will be key as to which way Bonds will trade. A lower number could push Mortgage Bond prices lower thus increasing home loan rates

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