Market Update 10/13/2015

MBS are up +4/32 (FNMA 30-yr 3.5 at 104.07), around 3/32 lower than Friday at this time. Early investors may have priced at higher levels.

It has been a quiet morning. The Dow is down 10 points. No economic data will be released today.

The monthly rollover took place overnight for FNMA and FHLMC 30-yr securities. The current coupon switched from the October to the November contract. If you are tracking daily MBS price movements, November MBS prices reflected a drop of about -7/32 from October. This change is priced in over the course of the month, so the impact on mortgage rates on the day of the rollover is generally no greater than on any other day of the month.

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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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