January 17th, 2014
January 17, 2014; 10:24am
Good morning & Happy New Year!
Interest rate trends: Today – Lower; 10 days – Flat; 25 days – Flat
Interest rate recommendation: Locking bias
While interest rates remain the same, lender credits did improve slightly this morning. MBS’s are slightly better on mixed economic news, mostly bad news as Housing Starts and Building Permits decline in December and several companies missed their profit projections. Stock prices are also flat due to the weaker than expected housing data. Technically MBS prices are just above resistance level 2, at the 50 & 100 day moving averages. Being that it is Friday and MBS’s are hovering at resistance level 2, we will maintain a locking bias. It will take some tail wind to keep MBS’s above resistance level 2. Have a great day and a nice winter weekend!