Market Conditions

Dave Shelor with Prosperity Mortgage has posted a Market Condition report. Here's a brief summary, full version here.

"Mortgage bond prices remain higher mid-morning Monday erasing the losses seen Friday and more. Rates are finding support from weak stocks where the DOW Jones index opened in the 6,000 handle.

In news released this morning, personal income rose 0.4% and outlays rose 0.6%. Traders were expecting income to fall 0.3% and outlays to rise 0.3%. Also, the Institute for Supply Management (ISM), an indication of manufacturing strength stood at 35.8, near estimates."

Thanks Dave!