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Bond Markets Falling After Stronger Data; Negative Reprice Risk
Posted to: Micro News
Tuesday, June 24, 2014 10:11 AM

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Consumer Confidence

  • June Consumer Confidence 85.2 vs 83.5 forecast, 83.0 previously
  • Highest since Jan 2008
  • Employment internals improved slightly

New Home Sales

  • 504k unit annual pace in May vs 440k forecast, 425k previously
  • Highest since April 2008
  • Single Fam sales +18.6 pct, biggest gain since January 1992
  • Supply squeezed to 4.5 months worth vs 5.3 previously

This one-two punch from economic data is taking a quick and somewhat significant toll on MBS prices and Treasuries.  Both have erased half the day's gains already.  Some lenders are already looking at 5 ticks of weakness from initial rate sheet print times.  This makes negative reprices possible!

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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%