February Durable Orders rose 5.7% from January, above the consensus of 4.0%. Excluding volatile aircraft orders, the results fell a little short of expectations. February
New Home Sales declined 5% from January to an annual rate of 411K, a little below the consensus of 420K. The January S&P/Case Shiller 20-city home price index was 8.1% higher than one year ago. Consumer Confidence dropped sharply to 59.7, far below the consensus of 68.0.
Cyprus announced the next steps in the implementation of its bank bailout plan. Officials are hoping to reopen banks on Thursday, and investors will be watching to see if the transition proceeds smoothly.
The results from the 2-yr Treasury auction will come out around 1:00 et.
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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2015 Conforming, FHA, & VA Loan Limits
Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)