Joe Farr

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

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Retail Sales Rise


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. Get live mortgage rates now.

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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