St Patrick's Day

March 17th, 2017

Commentary at the close: MBS were able to edge higher in today's session as Stocks pause after the recent rally.(See below)

3.5% Fannie Mae 30-yr coupon down 16 bp at a price of 101.66 up 9  bp when rates were set yesterday at 10:00 am Open 101.53 High 101.72 Low 101.41.

Consumer Sentiment for March was better than expected but had little impact on the markets. Stocks closed near unchanged. The Dow lost a meager 19.93 points, S&P fell 3.13 points to 2,378.25, while the NASDAQ was near unchanged at 5,900.99. WTI oil was last seen at $48.73/barrel, near unchanged. 10-yr Note yield 2.50%. Next week's economic calendar is on the light side. Have a great weekend! 

 

What Is Going On With Interest Rates?  #wigowir

Below is the news when it happened and the market’s reaction.  For a full view of the day start at the bottom and work your way up. If want to know what just happened start at the top. All Times are Eastern Standard Time.  When the price of Mortgage Backed Securities (MBS) goes down rates go up, and when the price goes up rates come down. Remember in the bond market Bad News is Good News and Good News is Bad news.

 

3:56 PM Stocks closing near unchanged.

1:53 PM Stocks edge into positive territory.
1:27 PM Past midday, MBS holding gains, Stocks near unchanged. 10-yr yield 2.49%.
10:28 AM The S&P continues to trade near unchanged, while MBS hold gains.
10:01 AM Consumer Sentiment in March at 97.6 vs the 96.8 expected.
9:32 AM U.S. dollar index 100.21, near unchanged.
9:32 AM Stocks open slightly higher.
8:26 AM WTI oil $48.94, +$0.19.
8:24 AM S&P futures near unchanged.
8:23 AM 10-yr T Note yield 2.52% from 2.54% at yesterday's close.
8:22 AM MBS open near unchanged with limited overnight news as the volatile week comes to a close.
8:18 AM Happy St. Patrick's Day!

Johnmarbury.com has attempted to verify the information contained on this post.  However any aspect of such may change without notice.  Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. On October 5th we started posting our rates and leaving them on the site for you to refer back to. This will allow  you see where actual rates have been along with the news that caused the fluctuations on the rate sheet.  I ask that you forgive my spelling and grammatical mistakes. This is due writing skills that are lacking and the need to communicate quickly.  Most of the information posted on this blog along with the charts and indexes are available all during the day to the subscrbers of www.themortgagemarketguide.com  The cost of subscription is very reasonable. 

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