Premiere Mortgage Services Inc. - Dana Bain

Mortgage Commentary News Feb 26, 2014

February 27th, 2014 12:02 AM by Dana Bain

Commentary & News: 
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Mortgage bond prices closed above the levels where daily pricing was set applying downward pressure to mortgage rates. Bond prices rose/rates fell following a strong 5-year note auction. 

In news released this morning, new home sales printed at 468K. Market participants were expecting sales at 400K. That data was better than expected. 

The Treasury auction of $35B of 5-year notes was solid. Both indicators of demand were above average. Tomorrow brings the 7’s. 

Data Thursday includes weekly jobless claims and durable goods orders in the morning. Fed Head Janet Yellen will complete here semi-annual testimony to the Senate starting at 10:00 am ET. This is a make up day for the snowstorm that hit DC a few weeks back. We expect her comments to mirror those given to Congress. 
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Posted by Dana Bain on February 27th, 2014 12:02 AM

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