MBS--Mortgage Backed Securities--are down today, but it could have been much worse. MBS reached a low of -13/32 before moving up to the highs for the day.
The economic data again had little impact. CPI inflation matched the consensus, while Industrial Production and Consumer Sentiment fell short of expectations.
This chart shows the change in mortgage-backed securities (MBS) prices from today's market open at 8:00 AM ET and tracks how MBS prices have changed until the time of this post. The vertical-axis reflects the change in MBS pricing as measured in 32nds. Each 32nd is equal to 3.125 basis points. And, if you count the changes, there were over 33 changes in just 4 hours. So, when i mention to clients that consulting more than one mortgage broker will most definitely yield varying rates unless they could some how do their search at exactly the same split second
Falling MBS prices result in higher mortgage rates. Rising MBS prices result in lower mortgage rates. MBS pricing provided by MBSQuoteline.
Author
Joe Farr
About the Author
Joe Farr is a 20-year veteran of the mortgage industry. He is MBSQuoteline's Director of Sales and Marketing. For up-to-the-minute MBS prices throughout the day, go to www.mbsquoteline.com.
Mark Slade
keller Williams
917.797.5059
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