Maine Mortgage Market Wrap 02.04.2011

MARKET WRAP: Mortgage Bonds fell for the 5th straight this week on positive economic reports, supply issues next week, inflation fears and a fall in the unemployment rate. The 4% coupon close to 200bp this week finishing at 99.62 down 47bp. Stocks managed to put up gains this week with the Dow rising 2.3% to 12092.15, the S&P 500 up 2.7% to 1,310.87 while the Nasdaq rose 3.1% to end the week at 2,769.30. Oil finished at $89.03/barrel falling 0.4% for the week. Next week’s economic calendar is extremely light with just weekly claims on Thursday and Consumer Sentiment on Friday. The Treasury will sell $72B in 3 and 10 year notes along with 30 year Bonds next week. Have a great weekend!

Published by Seth Jacobs

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

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