The 200 Day Moving Average is Showing It's Strength

Quick market update for you.

Mortgage bonds are grabbing some footholds in an attempt to get back above their 200 day moving average.  This all-important technical level has been showing its power as a "line in the sand" for mortgage bonds to get past.  After faltering below this level earlier this week today's trading action has us back above the moving average.

Let's see if this bullish momentum can hold.  While these might be some early good signs I still recommend locking versus floating for any new mortgag transaction until we see continued strength in mortgage bond trading.