Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,829
# of Questions Answered
 

Send Article via Email

REGISTERED USERS (Free!):
Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 3 and 3 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
 
This email was sent to you by:
Harry Chriest |
Mortgage News Daily

Message:   YOUR MESSAGE HERE
Email alerts, such as this one, are a free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please register to join our community.
Back to Best Levels after FOMC Knee-Jerk
Posted to: Micro News
Wednesday, January 29, 2014 3:02 PM

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

As far as knee-jerk reactions to FOMC Announcements go, today's wasn't too big, but big enough to keep things interesting.  The initial reaction to another round of tapering was a move toward weaker prices for bond markets, but this soon reversed course and leveled-off.  Prices and yields returned to pre-FOMC levels just briefly and have now taken off into positive territory.

10's are carving out new multi-month lows and MBS new highs.  Fannie 4.0s are up 13 ticks at 104-24 and 10yr yields are down 7.3bps at 2.6767.   Equities markets and Yen have followed bond markets in lock-step, and emerging market currencies to a lesser degree. 

Much like the earlier weakness wasn't far enough from rate sheets to suggest much by way of negative reprice risk, current strength isn't far enough in the other direction to guarantee positive reprices.  That said, some lenders may still reprice based on the trend.




More from MND:

 

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.

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

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 4.22%
  • |
  • 15 Yr FRM 3.37%
  • |
  • Jumbo 30 Year Fixed 4.07%
MBS Prices:
  • 30YR FNMA 4.5 107-21 (0-03)
  • |
  • 30YR FNMA 5.0 110-02 (0-01)
  • |
  • 30YR FNMA 5.5 111-08 (-0-01)
Recent Housing Data:
  • Mortgage Apps -7.23%
  • |
  • Refinance Index -10.65%
  • |
  • FHFA Home Price Index 0.67%