August 28th Mortgage Market Wrap-up

MBS prices are up +2/32 (FNMA 30-yr 4.5 at 100.06), above the initial price level at -6/32, and at the high for the day.  Today's economic data came in close to expectations and had little impact. The Dow fell 40 points ending eight consecutive days of gains. For the week, MBS prices rose about +12/32.