Market News 7-22

The 30 yr. rates have continued to improve after Friday's MBS gain (for a second straight week).  Bonds are continuing to rally due to the lower than anticipated Retail Sales Report.  MBS investors are finding renewed interest  from foreign investors as concerns mount about the ability of Italy and Greece to meet their bailout requirements.

Last week all focus was on Bernanke, with traders now speculating that the Fed Chairman's most recent comments are pointing towards the Fed holding out longer before tapering their monthly purchases.

This weeks Economic Calender include:

• Initial Jobless Claims
• Durable Goods Orders

Any variance from market expectations can greatly affect pricing.  Remain in constant contact with your mortgage loan originator to capture any market gains.

Below is a link for this weeks National Real Estate Report:
http://www.newsletterproonline.com/newsletter/originationpro/?newsletter=true&nid=466&uid=10671

- Michael Corboy
mcorboy@specialtyfinancialmtg.com
www.specialtyfinancialmtg.com
https://www.facebook.com/pages/Specialty-Financial-Services/109915892511943?ref=stream