MBS OPEN: Back in the Boundaries of the Range
Posted To:MBS Commentary
Happy Hump Day… Recap of Yesterday .. Pending Home Sales +3.7% vs. +6% in Sept. Year over year +31.8%. READ MORE New Residential Construction Spending +4.4%. Commercial Building -3.7%. READ MORE ISM said its index of national factory activity decelerated to 53.6 in November from 55.7 in October. Employment index for the manufacturing industry slipped to 50.8 in November from 53.1 in October, which had been the strongest showing since April 2006. Lend America ceases lending operations READ MORE The dollar depreciated and US stocks were higher. Dow +1.23% to 10,471.58, S&P +1.21% to 1,108.87, NASDAQ +1.46% to 2,175.81. The yield curve STEEPENED as the rates market unwound Dubai debt distress flight to safety positions in the long end of the curve. The UST10YR went out the door yielding…(read more)
This mortgage update is brought to you by: Adam Quinones – You can read the full article at MBS OPEN: Back in the Boundaries of the Range
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