Joe Farr

Mortgage Rates Today : Real-Time MBS Pricing, March 21, 2013

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Existing Sales Rise



Uncertainty about Cyprus has caused volatility in MBS markets this morning, as negotiations continue for a bailout package.

In the US, weekly Jobless Claims rose slightly to 336K, below the consensus of 345K. February Existing Home Sales increased slightly from December to an annual rate of 4.98M, which was slightly below expectations. The inventory of existing homes for sale rose to a 4.7-month supply, the first monthly increase since July. Philly Fed rose to 2.0, above the consensus of -3.0. Leading Indicators matched expectations.

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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