Posted by: cfigueira | June 1, 2010

Mortgage bonds prices

Mortgage bonds prices remain positive this morning helping rates improve.

The market remains volatile following the extended holiday weekend. Fortunately it currently remains in our favor.

Oil prices fell near $72/barrel as the Euro was weaker and stock futures fell. Falling energy prices generally enable mortgage interest rates to fall in that inflation fears are somewhat alleviated.

ISM Index @ 59.7, expected @ 58.9. The initial reaction was slightly negative for bonds and helped stocks bounce back a bit. The DOW is currently down 2 points.

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