Current Pricing of FNMA 30 Year 4.5% Bond: $101.00
+21 bps (Prior Close – $100.79)
Market Update: Mortgage Backed Security (MBS) pricing is starting the day higher today after yesterday's close. Bonds pricing is up on the release of weaker housing numbers and tame wholesale inflation. With Bond prices moving slightly higher, home mortgage interest rates move lower.
Economic News: Housing Starts and Building Permits both came in under analysts expectations. Also in the news, the Producer Price Index, which measures wholesale inflation, unexpectedly fell due to a drop in energy prices. Oil and natural gas have had significant price increases lately, so we'll have to watch wholesale inflation closely.
Recommendation: FLOAT
For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.
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