Mortgage
Bonds are trading slightly higher today ahead of some big supply set to hit
this week from the Treasury Department in the form of T Note offerings.
In
economic data, Durable orders were unchanged in October, while the case Shiller
Home Price 20-city index rose to its 6th straight monthly gain.
In
addition, Lender Processing Services reported that home prices rose in
September from the prior month and are higher from a year ago while Consumer
Confidence jumped to its best level in more than four years.
A
Floating recommendation continues for it is tough to see home loan rates move
significantly higher from current levels.
The
Federal Reserve continues to keep home loan rates near record lows in an effort
to shore up the housing market and that should continue well into 2013 or until
such time that the sector can stand on its own two feet.
MBS
16bps
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