Market is coming back: Revised GDP

MBS are up +4/32 (FNMA 30-yr 3.0 at 101.08), around 4/32 higher than yesterday at this time. Favorable repricing took place yesterday. Early investors may have priced at lower levels.

This morning, first quarter GDP was revised lower from 0.2% to -0.7%, which was very close to the consensus. The Chicago PMI regional manufacturing index missed badly to the downside, dropping to 46.2, far below the consensus of 53.0. The Dow is down 50 points. Consumer Sentiment will be released at 10:00 et.

REMEMBER  when this chart goes          “UP”    RATES    go “DOWN”

homechart1432908020

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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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