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Bond Markets Stronger Overnight; Building on Gains This Morning
Posted to: Micro News
Tuesday, June 24, 2014 9:36 AM

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Treasuries benefited just slightly from the start of the overnight session as Asian investors saw buying opportunities after yesterday's late move higher in yield.  The bigger move followed bond-friendly comments from Bank of England's Carney just after 5am ET.  Core European debt benefited the most, but Treasuries added another 2bps to their rally in terms of 10yr yields. 

Those gains didn't last by the time the domestic session got underway, but they've been trickling back in as it progresses.  MBS started out slightly stronger and have mostly kept pace with Treasury improvements this morning. 

Weaker Home Price data didn't stand in the way.  Case Shiller's year-over-year price appreciation came in at 10.8 percent versus 11.6 forecast and 12.4 previously.  FHFA's reading showed a decline to 5.9 percent annually from 6.5 percent previously.




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Mortgage Rates:
  • 30 Yr FRM 3.95%
  • |
  • 15 Yr FRM 3.13%
  • |
  • Jumbo 30 Year Fixed 3.90%
MBS Prices:
  • 30YR FNMA 4.5 108-07 (-0-02)
  • |
  • 30YR FNMA 5.0 110-21 (0-00)
  • |
  • 30YR FNMA 5.5 111-20 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%