This morning, January Retail Sales increased 0.1% from December, matching the consensus forecast. Retail Sales ex-autos also matched expectations with a small increase. Import Prices increased 0.6%, below the consensus of 0.8%, mostly due to higher energy prices. The results from the 10-yr Treasury auction will come out around 1:00 et.
In last night's State of the Union address, President Obama touched on a few ideas for the housing industry, including looser underwriting standards and expanded refinancing opportunities similar to HARP to borrowers with non-agency loans.
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. Daily mortgage rates are based on real-time mortgage market pricing and are where mortgage rates come from.
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)