MBS Quote line Afternoon 07-24-14 04:00pm ET MBS are down - TopicsExpress



          

MBS Quote line Afternoon 07-24-14 04:00pm ET MBS are down -38bp (FNMA 30-yr 3.5 at 102.06), around 19bp below morning levels, and near the low for the day. Some unfavorable repricing was seen. Stronger than expected US Jobless Claims data and European manufacturing data hurt MBS today. Weakness in the New Home Sales report (see below) did little to offset the losses. The Dow is down 5 points. Tomorrow, Durable Orders will be released at 8:30 et. June New Home Sales declined 8% from May to an annual rate of 406K, far below the consensus of 475K. The May figures were revised sharply lower from the 6-yr high of 504K to just 442K. The New Home Sales data is frequently volatile from month to month. The total inventory of new homes available for sale increased to the highest level since October 2011. Freddie Mac reported that average mortgage rates were flat in the week through July 24, with 30-yrs hitting 4.13%, from 4.13% the prior week.
Posted on: Thu, 24 Jul 2014 20:20:59 +0000

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