Technically speaking, today was a good day for the mortgage markets with July MBS's breaking resistance and moving to new near term highs. The bellweather 10yr note yield fell 5 basis points to 3.11, down from 3.16 yesterday. The Stock market closed with a slight gain Wednesday after sales of "new" homes hit a recored low and the Federal Reserve indicated that problems in Europe pose a threat to the U.S. economy. An unexpected drop in "existing" home" sales also hurt the markets. In case you dont follow the 10yr Treasury yield, we hit a 12 month low !!
Source: Richard Ellis Weekly Rate Sheet
No comments:
Post a Comment