Posted by: cfigueira | May 13, 2010

Mortgage Bond Prices

Mortgage bond prices opened slightly higher Thursday morning holding mortgage rates steady from pricing Wednesday. In news released at the open, weekly jobless claims stood at 440k. Continuing claims, a summation of all those receiving benefits, stood at 4,627. Economists’ estimates were for claims to read 440K and 4,570 respectively. This data was mixed and had little effect on trade. Traders are now waiting for stocks to begin trade at 9:30 am ET and for the results of the 30-year auction this afternoon. We are hopeful today’s offering is received as well as the 3 and 10-year auctions earlier this week. While either the 3 or 10-year auctions were stellar, they were good enough to keep the market stable. Auction results are expected by 1:15 pm ET.

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