Volatility has jumped as sellers press the market lower. Could be hedging for tomorrow’s 30 year bond auction or just a distribution trade for the new issue 10’s but nonetheless, prices are worsening. Current 10 year notes are now off 20/32’s and MBS down 9/32’s. We’ll need to see the 21 day MA hold. Currently, the battle is being fought (bulls and bears) right at that level. Hang in there.
Mortgage Prices are Worsening
January 13, 2010|Austin Mortgage Market|
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