Alan's Blog

August 20th, 2008 1:36 PM

Mortgage Bonds were finally able to poke above the tough ceiling of resistance this morning that they have been battling for three days.

In other news, the national average for a gallon of gasoline fell last week to $3.77. But it may not be for long, as oil prices have already climbed back up above $116 a barrel.

Currently, Bonds are sitting good, but are down slightly from their best levels. I recommend floating for now to see if they can make any more gains. But be ready to lock if the situation changes. After all, the Bond has only closed above this ceiling of resistance twice in the past three months, so it may not hold.

Posted by Alan McNamee on August 20th, 2008 1:36 PMPost a Comment (0)

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Pilgrim Mortgage, LLC is an equal housing lender. Interest Rates are subject to change. Interest rates are also subject to credit, income and property approval based on market guidelines. Other rates and terms are available. Contact us for details. Consult your accountant about tax deductions. These are my personal views and don't reflect those of  Pilgrim Mortgage, or it's affiliates. Pilgrim Mortgage, LLC

 


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