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Yesterday, prices of mortgage backed securities managed to regain some of the losses suffered at the end of last week which allowed lenders to offer better mortgage rates. After the closing bell, Intel reported better than expected earnings which caused a selloff in Treasury futures. Selling then intensified...
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We had quite a volatile day yesterday. MBS prices moved to the lows of the day immediately following the 10 year treasury auction and then ticked even lower following the release of the Fed statement an hour later. Many lenders did reprice for the worse as losses grew, pushing mortgage rates higher....