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Bond Markets Losing Ground After Stronger Housing Starts Data
Posted to: Micro News
Friday, May 16, 2014 8:40 AM

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The overnight session was uneventful for Treasuries, with a narrow 2.49-2.51 range.  They reached the domestic session almost perfectly unchanged, and MBS also opened in line with yesterday's close.  Both are losing ground following the stronger-than-expected Housing Starts data.

Housing Starts

  • April Housing Starts 1.072 million vs 980k forecast
  • March revised to 947k from 946k
  • Building Permits 1.080 million vs 1.010 million forecast
  • Building Permits highest since June 2008
  • Single Family Starts only +0.8, Multifamily +39.6

10yr yields are up to 2.513 from 2.49 before the data.  Fannie 3.5 MBS moved down from 102-18 to 102-13.

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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.66%
  • |
  • 15 Yr FRM 2.94%
  • |
  • Jumbo 30 Year Fixed 3.61%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (0-02)
  • |
  • 30YR FNMA 5.0 110-19 (0-02)
  • |
  • 30YR FNMA 5.5 111-26 (-0-04)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%