Mortgage Rates In Motion : Weekly MBS Prices At 5-Minute Intervals
Despite a burst of data which did not appear friendly for bonds, MBS prices have moved higher this morning. January CPI rose 0.7% from December, above the consensus of 0.5%, and it was 2.0% higher than one year ago. Core CPI, which excludes food and energy, increased 0.2%, matching the consensus. Core CPI was also 2.0% higher than one year ago. February Industrial Production increased 0.7% from January, above the consensus of 0.5%. Capacity Utilization rose to the highest level since March 2008.
Empire State increased to 9.2, below the consensus of 10.0. Consumer Sentiment declined to 71.8, far below the consensus of 78.0.
This chart shows mortgage-backed securities (MBS) prices from Monday's market open until the time of this post. The vertical-axis reflects MBS prices as measured in basis points. Mortgage-backed bonds are used to formulate mortgage rates.
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates. MBS pricing provided by MBSQuoteline.