29Jan2007
Dan Green
Author
Dan Green
Filed Under
Federal Reserve

Quantifying the Bloodbath

Mortgage rates and markets change constantly. Stay 100% current by taking The Mortgage Reports by email each day. Click here to get free email alerts, or subscribe to the RSS feed in your browser.

ElevatorIf you are looking for some hard data that shows why mortgage rates "took the elevator" up last week, here are some statistics to amaze your friends:

  • Mortgage-backed securities lost 84 basis points over 5 days
  • Fed Futures currently price a greater chance that the Fed will raise the FFR in May than it will lower it
  • Since January 5, the Fannie Mae 30-Year 5.5% bond closed worse on 81% of trading days and has worsened in pricing by 146 basis points
  • Since December 5, the same bond has been down on 23 of 36 days, or 63.89% of the time

If we look back at my posts from around December 5 -- the date that rates began to worsen on the whole -- we see a lot of talk about weakness in the economy and dangerous technical patterns.

My, how quickly things can change.

Dan Green
Author
Dan Green

About the Author

Dan Green (NMLS #227607) is an active loan officer with Waterstone Mortgage. Email Dan ator call 513-443-2020.

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