Posted February 28, 2013Tweet
Today's economic data had little impact on MBS. Weekly Jobless Claims dropped to 344K, below the consensus of 360K. Chicago PMI Manufacturing rose to 56.8, which was a a little stronger than expected.
Fourth quarter GDP was revised slightly higher to 0.1% from -0.1%, but this was below the consensus of 0.5%. While exports added more to GDP, the inventory data was revised lower. Economists forecast that GDP growth will be around 2.0% during the first quarter of this year.
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.
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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2014 Conforming & FHA Loan Limits
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