It has been a quiet morning. Weekly Jobless Claims declined to 330K, matching the consensus. The European Central Bank (ECB) made no change in rates. Comments from the ECB President suggest that the ECB will hold rates low for a long time.
The results from the 30-yr Treasury auction will come out around 1:00 et. The Employment report will be released tomorrow at 8:30 et.
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.
MBS prices correlate and are inversely related to today's mortgage rates available from U.S. banks and lenders. When MBS prices rise, mortgage rates tend to fall. When MBS prices fall, mortgage rates tend to rise. In general, a .250 change in MBS pricing corresponds to a 0.125 percentage point change in mortgage rates.
MBS pricing is provided by MBSQuoteline, a mortgage pricing subscription service available to loan officers, real estate agents, and finance professionals. 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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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)