Posted August 26, 2013Tweet
Weaker than expected data helped MBS this morning. July Durable Orders fell 7.3% from June, below the consensus for a decline of 4.0%. Following the decline in New Home Sales on Friday, today's data gives the Fed another reason to wait a little longer to begin to taper its bond purchases. For stocks, the possibility that the Fed will delay tapering roughly offsets the signs of weaker economic growth.
No more economic data will be released today.
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 lower. MBS pricing provided by MBSQuoteline. Today's mortgage rates are based on the real-time pricing shown above.
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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