Mortgage Rates In Motion : Weekly MBS Prices At 5-Minute Intervals
MBS Decline Sharply
While stocks are flat, MBS have dropped sharply this morning. Today's selling reflects growing sentiment that the labor market is improving as seen in recent weekly Jobless Claims data and the April Employment report.
Fed Chief Bernanke spoke about the regulation of financial markets, but he did not make any commments about monetary policy.
This chart shows mortgage-backed securities (MBS) prices from Monday's market open until the time of this post. The vertical-axis reflects MBS prices as measured in basis points. Mortgage-backed bonds are used to formulate mortgage rates.
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates. MBS pricing provided by MBSQuoteline.