01.05.16-I think everyone is catching their breath from yesterday!
Still low volume in trading. Good news is government mortgage backed securities have moved past the 50 day average. This means we may still see a small break out trending to better pricing. Fannie and Freddie are getting very close to the 50 day average as well. We need more participation in the markets to gauge a real New Year direction. Let's just hope for more flight to safety to better our rates once everyone comes back to work. Going to be a slow news week with only tomorrows ADP employment report and Thursday's unemployment report to cause any trouble. There is a small taste of retail numbers coming out Thursday as well that may make a small impact, today a report called Redbook came out showing a strong gain in after holiday clearance sales. These clearance sales may be the retailers only saving grace from the holiday sale season.
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