Market Update

MBS are up +1/32 (FNMA 30-yr 3.0 at 102.29), around 1/32 lower than yesterday at this time. First unfavorable and later favorable repricing was seen yesterday.

The release of the first reading for third quarter Gross Domestic Product (GDP), the broadest measure of economic activity, caused some volatility for MBS this morning but had little net effect. GDP grew by 2.9% during the third quarter, above the consensus of 2.5%, and up from 1.4% during the second quarter. Strength was seen in exports and inventory levels. Consumer spending grew at a slower pace than in the second quarter. The Dow is up 50 points. Consumer Sentiment will be released at 10:00 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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