When the price of Mortgage Backed Securities (MBS) on the above chart above goes up mortgage rates come down.  When the price goes down mortgage rates go up.

On the chart above you will see that we are getting close to 2 year highs on the price and lows on the rates.

Below is the news when it happened and market reaction.  All of the times below are Eastern Standard Time

11:37AM New Rates have been posted

Thu, Jun 16 11:31 AM - Bonds off the best levels. Be careful on our floating stance which may be changing.

Thu, Jun 16 9:25 AM - USD LIBOR 1-month .44%, 3-month .65%, 6-month .94%, 12-month 1.26%.
Thu, Jun 16 9:04 AM - U.S. dollar index 95.16 +0.48.
Thu, Jun 16 8:59 AM - 10-yr German Bund yield .02%.
Thu, Jun 16 8:55 AM - WTI oil at $47.16/barrel down 85 cents.
Thu, Jun 16 8:52 AM - 10-yr T Note yield down to 1.55%.
Thu, Jun 16 8:46 AM - CPI (May) +0.2% vs. estimated +0.3%. Philadelphia Fed Index rose to 4.7 from -1.8 in May.
Thu, Jun 16 8:20 AM - S&P futures open lower.


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