This morning, the ADP Employment forecast for private sector job gains in November was 118K, a little below the consensus of 125K. The results were influenced by Hurricane Sandy. Third quarter Productivity was revised higher to 2.9% from 1.9%, which was slightly higher than expected, while Unit Labor Costs declined 1.9%. Increased output per worker at a lower cost is great news for the economy as a whole, but it makes it more challenging for people looking for jobs. ISM Services rose to 54.7, above the consensus of 54.0.
This chart shows the change in mortgage-backed securities (MBS) prices from today's market open at 8:00 AM ET and tracks how MBS prices have changed until the time of this post. The vertical-axis reflects the change in MBS pricing as measured in 32nds. Each 32nd is equal to 3.125 basis points.
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates. MBS pricing provided by MBSQuoteline.
The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. The views and opinions expressed herein are those of the author and do not reflect the policy or position of Full Beaker, its officers, parent, or affiliates.
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2015 Conforming, FHA, & VA Loan Limits
Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)