Current Pricing of FNMA 30 Year 4.5% Bond: $100.00
-31bps (Prior Close – $100.31)
Market Update: The MBS pricing started off higher this morning but has since declined as stocks improved drastically. The US equity markets are moving higher on the better than expected Existing Homes Sales Report. The markets continue with their high levels of volatility.
Economic News: Existing Homes Sales were released today showing an improvement of 7.2% from the previous month at 5.24M versus expectations of 5M. This is the largest improvement since the National Association of Realtors began keeping track in 1999.
Recommendation: LOCK
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