28Jun2013
Joe Farr

Mortgage Rates In Motion : Weekly MBS Prices At 5-Minute Intervals

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Sentiment Rose

 

mbs0628

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.

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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