Tuesday, June 16, 2009

Housing Starts and Possible Signs of Recovery!

Housing starts rose sharply to 17% in the month of May. Stocks and Bonds are teetering back and forth like a seesaw. When stocks go up, investors usually take money out of bonds and when stocks go down, they temporarily place them in bonds causing them to improve. Improved bond yeilds means better mortgage rates. As we speak, mortgage bonds are up 19 basis points for the day. Lets hope this continues as rates are getting closer to the high 4's compared to the mid to high 5's over the past week or two.

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