MBS prices began today's session close to yesterday's closing levels, but a quick burst of selling sent MBS sharply lower. MBS then recovered back to unchanged levels. It's the last day of the quarter, which means that volatility is often higher than usual, as investment funds make final adjustments to their portfolios before reporting their end of quarter holdings.
Chicago PMI Manufacturing fell to 51.6, well below the consensus of 55.5. Consumer Sentiment rose to 84.1, above the consensus of 82.5.
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 the basis for mortgage rates.
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates. MBS pricing provided by MBSQuoteline.
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)