Posted March 20, 2013Tweet
This morning, concerns about Cyprus have eased, causing investors to partially reverse the safety trade, lifting stocks and hurting MBS. Cyprus is reported to be in discussions with Russian officials and EU officials about loan terms which would not involve a tax on bank deposits.
The Fed statement will be released around 2:00 et, and Bernanke's press conference will begin around 2:30 et. Bernanke has clearly indicated that the Fed has no plans to remove any monetary stimulus in the short-term. Even with the recent stronger than expected economic data, investors expect little change in Fed policy today.
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
Mortgage loan limits for every U.S. county,
as published by Fannie Mae & Freddie Mac, and the FHA.