Just a quick update. Stateside traders were greeted with bullish price action as Japan’s growth fell short of expectations, pushing the 10 year note up 1 point before the bell. The National Association of Home Builders Confidence Index didn’t help, falling to 13, its lowest level since March 2009. I wanted to get this out because we are starting to see the early morning rally fade. Currently the FNMA’s are up only 2/32’s and the 10 year is plus 21/32’s. Part of this is due to a recovery in stocks, once down 70 something, the Dow has now boot strapped itself back to plus 13. A price change for the worse is probably moving to the front burner.
A price change for the worse is probably moving to the front burner
August 16, 2010|Austin Mortgage Market|
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