Joe Farr

Mortgage Rates Today : Real-Time MBS Pricing, April 16, 2013

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Housing Starts Rise


There was little reaction to today's economic data. March CPI fell 0.2% from February, below the consensus of -0.1%, and it was 1.5% higher than one year ago. Core CPI, which excludes food and energy, increased 0.1%, below the consensus of 0.2%. Core CPI was 1.9% higher than one year ago. March Industrial Production increased 0.3%, which was very close to expectations.

March Housing Starts jumped 7% from February to an annual rate of 1,036K units, well above the consensus of 930K, and the highest level since June 2008. The increase was entirely due to multi-family units. Building Permits declined 4%.

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 lead mortgage rates higher. 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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