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

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