TGIF 3/11/2016

MBS are up +1/32 (FNMA 30-yr 3.0 at 101.18), around 2/32 lower than yesterday at this time. First unfavorable and later some favorable repricing took place yesterday.

This morning, February Import Prices fell 0.3% from January, compared to the consensus for a decline of 0.8%. The Dow is up 175 points. No more 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 March to the April contract. If you are tracking daily MBS price movements, April MBS prices reflected a drop of about -7/32 from March. 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.

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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