Current Pricing of FNMA 30 Year 4.5% Bond: $101.06
+31 bps (Prior Close – $100.75)
Market Update: Mortgage Backed Security (MBS) pricing is higher this morning from yesterday. The Treasury auctions this week showed good demand for bonds and helped Mortgage Bonds continue their uptrend in price, lower in rate.
Economic News: The consumer sentiment report came in more positive than expected with a reading of 71.8 and the consensus was for 67.8. This would be expected to be a negative for bonds and mortgage pricing. However, even 15 minutes after the report came out, Treasury and MBS markets have not moved on the news.
Recommendation: FLOAT
For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600.
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