Current Pricing of FNMA 30 Year 4.5% Bond: $100.62
+22 bps (Prior Close – $100.40)
Market Update: Mortgage Backed Security (MBS) pricing is higher this morning from yesterday's close. Next weeks Treasury auction will be announced today. The recent auctions have been well received so this may help support Bond prices today.
Economic News: Signals of the recession bottoming out continue as Housing Starts for August came in at the best level since last November. New Building Permits were reported a bit lower than expected, but overall the report suggests that the worst in the housing market may be behind us. Initial Jobless Claims were reported lower than Wall Street expected. Also today, the Philly Fed Index surged to 14.1 but still shows sign of business pullback in the Mid-Atlantic region.
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.
No comments:
Post a Comment