Today we see a continuation of Wednesday’s improving bond prices. Yesterday the 10 year improved in price, and this morning we have an additional 22/32s improvement. The 10 year yield stands at 2.97, not a bad rally. Austin mortgage pricing followed this trend, with a combined two day price improvement. This move was spurred by a combination of factors including weak retail sales, a decent treasury auction, FOMC minutes that show downgraded revisions in growth, and this morning’s PPI number. PPI can in at -0.5%, and the core rate, for those that don’t eat or drive, came in at +0.1%. Tomorrow we have a few economic numbers coming out, including CPI.
Today we see a continuation of Wednesday’s improving bond prices
July 15, 2010|Austin Mortgage Market|
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