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Just like yesterday, MBS is taking a beating again this morning. We’re currently down 31 bps, and we’re awaiting the Existing Home Sales report in about 15 minutes. The GDP (Gross Domestic Product) came in at 2.2%, lower than the expected 2.8% estimate which caused MBS to rise a little, but we are still in negative [...] Down 25 bp already this morning (meaning rates have opened higher this morning). Stock market has opened up higher as well which proves ONE of the factors that lead to mortgage rates increases. This proves a very interesting point, and creates a general “rule-of-thumb” that shows the correlation between stocks and bonds. To sum it up, mortgage [...] |
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