Maine Mortgage Market Update 10.26.2010

Mortgage bond prices remain lower Tuesday morning adding to the losses seen Monday afternoon. Rates remain under pressure as mortgage companies sell bonds to cover locked borrowers. Thin trading conditions are adding to the pressure.

In news released this morning, consumer confidence stood at 50.2. Traders were expecting confidence at 49.00. This data was not bond friendly.

With no more news set for release today, traders will watch stocks as they await the outcome of the Treasury auction of $35B in 2-year notes. Results are expected by 1:15 pm ET.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s