PLEASE Pres Trump keep talking Its Helping Mortgage Rates
MBS are up +6/32 (FNMA 30-yr 3.5 at 103.12), close to morning levels. Comments from President Trump about possibly ending the NAFTA trade agreement lifted MBS today. July New Home Sales fell 9% from June to an annual rate of 571K, well below the consensus of 610K, and the lowest level in seven months. However, the results for June were revised higher, offsetting some of the shortfall. The Dow is down 90 points. Tomorrow, Jobless Claims and Existing Home Sales will be released. In addition, global central bankers will be attending the annual Jackson Hole conference tomorrow through Saturday, and many will be making speeches.