Maine Mortgage Market Update 02.15.2011

MARKET WRAP: Mortgage Bonds traded higher for the 3rd straight session on Stock weakness and after softer than expected economic data. Retail Sales were a bit lower than expected, which also helped to boost Bond prices. The 4% coupon rose 25bp to end the session at 97.38. Stocks ended lower today as the recent rally seems to be losing some steam. The Dow dropped 41.55 to 12,226.64, the S&P 500 Index slipped 4.30 to 1,328.01 while the Nasdaq lost 12.83 to 2,804.35. Oil settled at $84.32 down 42 cents and represented an 11th week low. Tomorrow’s economic data includes the Producer Price Index along with Housing Starts/Building Permits.

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