Special announcement “Why a SPIKE in MBS” 1/30/2015

MBS are up +11/32 (FNMA 30-yr 3.0 at 103.11), around 12/32 higher than yesterday at this time. Early investors may have priced at a range of levels.

MBS began the session with large gains, as bond yields in Europe moved lower. Core inflation in the Eurozone declined. A shortfall in today’s US GDP data (see below) provided another small boost. Chicago PMI manufacturing rose to 59.4, above the consensus of 58.0. The Dow is down 25 points. Consumer Sentiment will be released at 10:00 et.

The first reading for fourth quarter GDP, the broadest measure of economic activity, showed an annual growth rate of 2.6% during the fourth quarter, below the consensus of 3.2%. This was down from 5.0% growth during the third quarter. For all of 2014, GDP increased 2.4%. The performance of the key components of GDP were mixed during the fourth quarter. Consumer spending was a bright spot, rising at the fastest pace in almost nine years. Business investment was weak, however, and exports were hurt by the stronger dollar.

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About The Mortgage Update

I am a resident of St Charles Illinois and have been in the Mortgage Industry for 24 Years. I am also be heard on WYLL 1160 AM Chhristian Radio "The Mortgage Update with Terry & Dan". With relationships with the our Countries biggest lenders, it allows me to help you find the PERFECT Mortgage for your situation. From getting Pre-Approved to purchase your first home to helping you Qualify under wth NEW HARP 2.0 Guidelines (see HARP 2.0 tab).

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