Today we see a continuation of Wednesday’s improving bond prices
Today we see a continuation of Wednesday’s improving bond prices. Austin mortgage pricing followed this trend, with a combined two day price improvement.
Today we see a continuation of Wednesday’s improving bond prices. Austin mortgage pricing followed this trend, with a combined two day price improvement.
We will continue to trade the small range that has been with us for a couple weeks now, swinging from high to low, low to high depending on stocks and ‘headlines”. Nothing huge here as we see Austin mortgage rates remaining low well into the third quarter.
As predicted, Friday’s bearish close, along with this week’s record 137 billion in treasury auction supply has kept the market under pressure as we begin a new week. 7 billion in 5 year tips will greet the screen today, followed by 44 billion of 2 year notes on Tuesday, 41 billion of 5 year notes on Wednesday, and 31 billion of 7 year notes on Thursday. This could give the market a bit of indigestion. Traders talk about “no shows at the lows”, meaning that buyers will not show up even at cheaper levels. We believe that a strong overseas bid will continue and with most of paper being shorter in duration, the auctions “should” be much ado about nothing.
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