Mortgage Backed Securities are trading are trading higher this morning, despite the Consumer Sentiment Index coming in lower than expected. Stocks are up this morning recovering from yesterdays down day. Crude Oil is down this morning at $76.19 Per Barrel.
In other news, the Fed stepped in yesterday with more buying of Mortgage Backed Securities, which helped Bond prices recover from news of a weak Treasury Auction. However, now is a good time to remember that the Fed is winding down that type of buying support, which will likely result in Mortgage Bond prices moving lower and home loan rates rising over the coming months.
If you or someone you know is considering buying, selling or refinancing please contact me at 801 668 2112
