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No economic data was released today. Strong gains in the stock market pushed MBS markets lower, as investors shifted funds to riskier assets. The Dow opened up 275 points. Tomorrow, Jobless Claims will be released at 8:30 et.
Favorable repricing took place yesterday. The 30-yr fixed FNMA required net yield (60 day) is now at 4.11%, a new low, from 4.19% yesterday.
It has been a quiet morning. The Dow is up 25 points. No economic data will be released today.
The Mortgage Bankers Association weekly purchase activity index fell 2%, while the refinancing activity index increased by 9%. Average reported rates for the prior week rose to 4.68% from 4.67% for 30-yr fixed mortgages.
Source: http://www.MBSQuoteline.com/
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