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Today is a pretty exciting day. Bonds are pushing up against $103.00. If we can close above it, it could bring much cheaper rates. Though it would take a lot to get us back to the pricing of Pre-Election, this is a real breath of fresh air and great for mortgage consumers.
The FHFA and Japan's weak PMI helped Mortgage Backed Securities (Bonds). Brussels' attacks also weakened the global economy pushing a flight to safety with bond markets. It's just sad that these things have to happen. More news later this week. I'll keep you posted.
Mortgage Backed Securities (Bonds) are doing okay today. Still we're overall getting worse even though the US's Retail Sales reports showed signs of a slow economic recovery. The Fed board also came out and said there is little to no chance of them increasing the short term rate. Forecast is for Mortgage Rates/Fees to be flat for a while but be careful because we're still in this downward trading channel.
Mortgage Backed Securities are continuing to get pummeled. Jobless claims came out today better than expected. Stock futures also have a positive outlook. You may not want to throw in the towel just yet though. A lot of eco reports coming out next week that may help us. Stay tuned.
