Maine Mortgage Market Update 11.01.2010

Mortgage bond prices are near unchanged on the day, holding some slim gains from Friday afternoon. The data this morning was mixed.

We initially rallied following the 8:30 am et data. Personal income fell 0.1%, weaker than the expected 0.2% increase. Personal Outlays rose 0.2%, weaker than the expected 0.4% increase. This data was bond friendly.

The PCE Core was unchanged, weaker than the expected 0.1% increase.

Unfortunately, stronger than expected ISM Index data has us backing up from the highs of the day. ISM Index 56.9, expected 54.0, not bond friendly and counters the earlier data.

The rest of the week looks to be interesting. We have a Fed meeting, productivity data, and the employment report all in a single week. This is not very typical and has the potential to result in some wild market swings.

Published by Seth Jacobs

Mortgage Broker, Disc Golfer and First Person Shooter Fan living in Vacationland.

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