MBS RECAP: Mortgage Struggle Back To Yesterday's Weakest Levels

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Posted To: MBS Commentary

MBS Live : MBS Afternoon Market Summary It was an exceedingly tepid and flavorless session for broader bond markets, but especially for MBS. Fannie 3.0's began the session chopping around unchanged levels vs yesterday's close. Considering yesterday went out at the lows, that wasn't an especially positive development and lenders first round of rate sheets mostly reflected that. Movement in markets beyond MBS continues shouting at any old dogs left to toss out previous assumptions about economic data. The stock market's reaction to Fiscal Cliff comments was four times bigger than whatever you'd call the barely detectable amount of movement following the release of GDP and Jobless Claims. Hint: that wasn't because of some balanced struggle between the bulls and the bears as they hashed out a meaningful...(read more)

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Source: www.mortgagenewsdaily.com

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