Market Update 5/14/2015

MBS are up +8/32 (FNMA 30-yr 3.0 at 100.16), around 7/32 lower than yesterday at this time. Unfavorable repricing took place yesterday. Early investors may have priced at lower levels.

It has been another volatile morning. Weaker than expected PPI inflation data may have contributed to the gains for MBS. April PPI fell 0.4% from March, below the consensus for an increase of 0.2%, and it was 1.3% lower than a year ago. Core PPI, which excludes food and energy, decreased 0.2%, below the consensus for an increase of 0.1%. Core PPI was 0.8% higher than a year ago. Weekly Jobless Claims came in at 264K, below the consensus of 275K. The Dow is up 100 points. No more economic data will be released today. The results from the 30-yr Treasury auction will come out around 1:00 et.

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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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