Joe Farr

Mortgage Rates Today : Real-Time MBS Pricing, March 7, 2013

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Jobless Claims Fall




An improving outlook for the labor market has hurt MBS yesterday and today, ahead of tomorrow's big Employment report. Weekly Jobless Claims dropped to 340K, below the consensus of 350K. The January Trade Deficit increased to $44.4B, which was a little higher than expected. Fourth quarter Productivity was revised slightly to -1.9%.

As expected, the European Central Bank (ECB) made no change in rates. The ECB lowered its forecast for euro zone economic growth in 2013.

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.

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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