Posted by: cfigueira | March 15, 2010

Mortgage Rates Higher After Retail Sales Data. Floating into Monday


Following the release of the Retail Sales report, benchmark yields rose and MBS prices plummeted. Many lenders released rate sheets at the lows of the day, thus mortgage rates moved higher out of the gates. However, shortly thereafter, benchmark rates began to recover as bargain buyers entered the market at the price lows. Then momentum was added to the relief rally following the worse than expected read on Consumer Sentiment. All MBS prices losses were eventually recovered. This allowed a few lenders to reprice for the better, but not all.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: