Sellers are in control of the market with additional downside (higher yield/worsening Austin mortgage pricing ) a high probability

5 year notes crossed the auction block to yield 1.33% with 39.5% taken by Indirect bidders.  The “street” took a mere 11% as the auction posted a 2.82% to 1 bid to cover. Post auction, price action on treasuries and mortgage backs has been soft with current coupon MBS now off 10/32’s.

Technically, market profile structure is bearish  following Monday/ Tuesday price action.  Sellers are in control of the market with additional downside (higher yield/worsening Austin mortgage pricing )  a high probability.

Best bet for Austin mortgage borrowers is to be defensive in this market!

About Max Leaman Austin Mortgage

GREAT RATES, LOW FEES, CLOSE ON TIME™ ---- 2012 Ranked #1 Austin Residential Mortgage Lender (Austin Business Journal) 2010, 2011 & 2012 Five Star Professional (Texas Monthly) 2009, 2010, 2011, 2012, 2013 PrimeLending Chairman's Circle Award 2009, 2010, 2011, 2012 Scotsman Guide Top Originator (Top 200 Mortgage Professionals in U.S.A.) Better Business Bureau "A+ Rating" National Lender Rankings (Scotsman Guide): Top Purchase Volume (No. 10) Most Loans Closed (No. 32) Top Dollar Volume (No. 88)

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