Mortgage bond prices opened considerably lower pushing rates higher this morning. The strong data was the catalyst.
ADP employment up 201k, expected up 140k, Weekly jobless claims @ 365k, expected @ 370k. The better than expected data combined to cause MBS prices to tank and rates to push higher in the short term this morning.
We are still waiting to hear results of the European Central Bank meeting but analysts expect some additional information on a bond buying program designed to keep rates low for member nations. We can expect some reversal of the flight to quality buying of US debt instruments as a result in the short term, but in the long term the up and down pattern is likely to continue as the euro zone is far from stable.
For more information about Refinance Maryland and Pennsylvania Refinance please visit the web site :- http://www.firstchoicemoney.com/
ADP employment up 201k, expected up 140k, Weekly jobless claims @ 365k, expected @ 370k. The better than expected data combined to cause MBS prices to tank and rates to push higher in the short term this morning.
We are still waiting to hear results of the European Central Bank meeting but analysts expect some additional information on a bond buying program designed to keep rates low for member nations. We can expect some reversal of the flight to quality buying of US debt instruments as a result in the short term, but in the long term the up and down pattern is likely to continue as the euro zone is far from stable.
For more information about Refinance Maryland and Pennsylvania Refinance please visit the web site :- http://www.firstchoicemoney.com/
No comments:
Post a Comment