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Trading action in the rates market yesterday was similiar to the previous session: early morning weakness, followed by a move higher in the lunch hour, which was then lost heading into the close. News and events were fairly positive for the fixed income sector which helped spark the move higher in price...
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The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as traders attempt to balance their uncertain long term economic outlooks with optimistic short term sentiment in stocks. This ongoing struggle has mostly insulated...
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A steady rally in benchmark Treasury yields yesterday helped prices of mortgage backed securities move to five month highs which allowed lenders to keep mortgage rates near five month lows. The major event that took place in the rates market yesterday was the Treasury auction of $20 billion in 10 year...