Weaker than expected Retail Sales data provided a small boost to MBS this morning. August Retail Sales rose 0.2% from July, below the consensus for an increase of 0.5%. This was the last major economic growth data before Wednesday's Fed meeting, and, like much recent data, it showed a modest pace of growth
August PPI rose 0.3% from July, above the consensus for an increase of 0.2%, and it was 1.4% higher than one year ago. Core PPI was flat from July, below the consensus for an increase of 0.1%, and was just 1.2% higher than one year ago. Consumer Sentiment dropped to 76.8, below the consensus of 82.0, and the lowest level since April.
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. Click to see today's rates (Nov 29th, 2015).
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)