Mortgage Bonds finally mustered up some nice gains yesterday, but those gains were erased in early trading this morning.
In the news, US exports fell to the lowest level in almost 3 years, as the US Balance of Trade widened in April for the second month. However, US exports should improve a bit in May after the US Dollar recently sank against foreign currencies, which makes US goods cheaper and more attractive to buy.
Currently, Mortgage Bonds are trading in a very wide range. Bonds just took a dropped 31 bps. We have an alert to lock rates this AM.
If anything changes, I will let you know.
Have a great day!
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