Fast market conditions exist in both bonds and stocks as traders try to adjust to the phrase, “what is value”

Fast market conditions exist in both bonds and stocks as traders try to adjust to the phrase, “what is value.”  The 10 year note, which was up as much as 10/32’s, is currently down 12/32’s.  Mortgage backs, especially in the low coupon (4.50% to 4.875% note rates) were up as much as 15/32’s in the early going (at pricing time).  Currently, they are up 4/32’s, a drop of nearly .375% in our pricing.  Investors and trading desks alike are reflecting the move, fading prices even more than the 11/32’s we see on the screen.  In total, we see pricing off nearly ½ from the earlier hours.  Keep in mind that markets like these are extremely volatile and can change without notice. 

Be careful out there.

About Max Leaman Austin Mortgage

Great Rates, Low Fees, Close on Time® – (800) 301-3405 Since 2001, Leaman Team has helped clients to purchase, refinance and renovate. The biggest distinction between lenders is their honesty, customer service, and ability to close on time.

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