By Taff Weinstein at
What Happened to Rates Last Week? \ |
Mortgage backed securities (FNMA 2.500 MBS) gained +333 basis points (BPS) from last Friday's close which caused fixed mortgage rates to move downward to their lowest levels in history. Domestic Flavor: Inflation Nation: The February Headline PCE YOY matched market expectations (1.8% vs est of 1.8%). Core (ex food and energy) YOY increased 1.8% vs est of 1.7%. Personal Income MOM 0.6% vs est of 0.4% and Personal Spending 0.2% vs est of 0.2% Consumer Sentiment: The preliminary March reading was revised lower from 95.9 down to 89.1 The Talking Fed: The Federal Reserve Bank of New York purchased $50B of mortgage backed securities each day |
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