Today's Interest Rate News
May 22, 2015; 10:29am
Interest rate trends: Today – Higher; 10 days – Higher; 25 days – Higher
Interest rate recommendation: Locking
Mortgage bonds (MBS’s) are currently worsening at -38bps. CPI inflation numbers came in slightly higher than expected for April, up +0.1%. The better CPI has caused MBS’s to worsen, but the extent of the meltdown we are seeing is likely due to lack of trading on this holiday shortened Friday. Fed Chairwoman Yellen is up next to speak today, those that are still working will likely respond to Yellen’s comments. It is not unusual to have a sell off on Friday before a holiday weekend. The next Market News and Interest rate email will likely be June 5th. If you have any questions regarding interest rates or direction of the market, you can still contact us any day at the numbers below. Thank you and have a nice holiday weekend.