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Best Levels of the Day After Yellen Comments
Posted to: Micro News
Thursday, May 08, 2014 10:58 AM

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Speaking currently at the Senate Budget Committee, Fed Chair Yellen said "interest rates are unlikely to begin rising until we're in a strong economic recovery."  

The tacit implication is that we're not currently in such a recovery--not a surprise to many MBS Live members, but refreshing to consider from the Fed Chair.

Fannie 3.5s are now up 5 ticks on the day to 102-15 and 10yr yields fell to the lows of the day, down 3.6bps at 2.586.

Some lenders--especially those who released rates just after the last downswing in prices, may already be in a position to consider positive reprices if MBS levels hold here or move higher.




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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.15%
  • |
  • 15 Yr FRM 3.30%
  • |
  • Jumbo 30 Year Fixed 3.99%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (0-01)
  • |
  • 30YR FNMA 5.0 110-08 (0-00)
  • |
  • 30YR FNMA 5.5 111-06 (-0-00)
Recent Housing Data:
  • Mortgage Apps 1.90%
  • |
  • Refinance Index 0.38%
  • |
  • FHFA Home Price Index 0.67%