Today's Interest Rate News
March 2, 2015; 9:37am
Interest rate trends: Today – Higher; 10 days – Flat; 25 days – Higher
Interest rate recommendation: Locking!
Mortgage bonds (MBS’s) came out this morning flat, but recently turned worse in a significant way. Currently MBS’s are worse by -33bps. It appears investors came out with a pre thought out plan for March because all the U.S. economic reports that I have seen came out worse this morning. It also appears Greece will receive its 3rd round of bail out funds if current negotiations work out. This will put Greece bailout funds between 330 to 350 billion euro. Many lenders have now repriced for the worse this morning, as expected so damage has been done. We will watch to see if it gets any worse as the day goes on or if we can get a bounce back. Have a great day!