28Jan2013
Joe Farr

Today’s Mortgage Rates : Real-Time MBS Pricing, January 28, 2013

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Pending Sales Fall 

 mbs0128

Stronger than expected economic data this morning has added to Friday's large losses. December Durable Orders rose 4.6% from November, above the consensus of 2.0%. Excluding volatile aircraft orders, they increased 1.3%, compared to a consensus of just 0.7%. Bonds sold off after the news, with 10-yr Treasury yields reaching 2.0% for the first time since April. Reports that European banks will pay back EU bailout aid sooner than expected, reflecting strength, added to the global move from bonds to riskier assets.

December Pending Home Sales dropped 4% from November, below the consensus for no change, but they were still 7% higher than one year ago.

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. Refinance mortgage rates are based on MBS pricing.

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About the Author

Joe Farr is a 20-year veteran of the mortgage industry. He is MBSQuoteline's Director of Sales and Marketing. For up-to-the-minute MBS prices throughout the day, go to www.mbsquoteline.com. Start a free trial.
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