Despite stronger than expected Confidence data, MBS are flat today. Consumer Confidence increased to 82.3, above the consensus of 78.0, and the highest level since January 2008. February New Home Sales declined 3% from January to an annual rate of 440K, matching expectations. The January Case-Shiller 20-city home price index rose 0.8% from December, and it was 13% higher than one year ago.
The results from the 2-yr Treasury auction will come out around 1:00 et.
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)