MBS RECAP: Bond Correction Now at 2.5 Days; Mortgages Outperform

Hot news from AZ Home Help:

Posted To: MBS Commentary

Longer duration bonds got hit hard today. Case in point, 30yr bonds are up nearly 13bps while 5's are only up 6bps. The better performances in the belly of the curve (3-5yr) helped MBS outperform the 10yr benchmark noticeably today. 10's are heading out the door near levels that are quite a bit higher than yesterday's highs. MBS, on the other hand, are right in line with yesterday's weakest levels. The broader theme continued to set the tone as bond markets "correct" after several days of market panic. The correction began on Monday, but only the past 2 days have seen weaker day-over-day levels. Today's installment included the first day in 5 sessions where the Shanghai Stock Exchange didn't close lower than the last session. Domestic equities also continued...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/505182.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com