Joe Farr

Mortgage Rates Today : Real-Time MBS Pricing, March 20, 2013

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Waiting for Fed



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.

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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