Yesterday saw the MBS
markets give back 24 basis points, meaning that rates should remain unchanged
but there is a small deterioration to rebate pricing. Even though
economic news was released yesterday that should have caused an MBS sell off,
we saw bonds hold their ground because of the looming government shutdown and
discussions on raising the debt ceiling.
Today's Interest Rate
Market Forecast must focus on watching which way the market
breaks. If the MBS market continues to improve, we could see rates go
down some more. However, if this rally dies off as the technical
indicators point out that we are due for a reversal, and that the market is
ripe for a sell off.
Next
week we will probably see the volatility rise again as we get economic data on
jobs and we see where the chips fall on the politics in Washington D.C.
Today is a full slate of economic data releases that can potentially move the markets. Work closely with your Most Trusted Mortgage Loan Professional to stay ahead of lender repricing for the worse in case of negative MBS performance.
Today is a full slate of economic data releases that can potentially move the markets. Work closely with your Most Trusted Mortgage Loan Professional to stay ahead of lender repricing for the worse in case of negative MBS performance.
-Michael
Corboy
www.specialtyfinancialmtg.com
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