Maine Mortgage Market News – 10.20.2010

Mortgage bond prices opened negative this morning erasing some of the gains from yesterday afternoon. We rallied yesterday following significant stock weakness. The DOW closed down 165 points.

Stock futures point to a positive open later this morning. We will see how things progress. If stocks rebound we could see further weakness on the day.

We have Fed Beige Book data this afternoon. No need to panic but still has the potential to move the markets.