Market Update

Mortgage Bonds are having a hard time breaking through the 200-day Moving Average, even with today's weak Housing numbers. New Home Sales for August were reported at 795,000 --which is lower than expectations of 830,000. In addition, the median home price came in at $225,000, the lowest level since January 2005. Until the Bond can convincingly break above the 200-day Moving Average, I will recommend a locking stance.