Bond Market Weakness

Quick update from the bond trading pits.

Mortgage bonds are showing several indications of technical weakness and inability to trade to new highs after the Fed cuts. 

Unless mortgage bonds can break up and past their earlier highs of the year those highs should remain in place and we should see mortgage rates drift higher in the days ahead.

DON'T use the Fed's actions and mistakenly assume lower mortgage rates are guaranteed.  That is a false pretense.  Your decisions should be made specific to your individual situation and longer-term plans.  These decisions should also be taking into account future risks as well as opportunities.  Currently, that scale is heavily tipped towards future risks.