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11/23 Market Close

By
Mortgage and Lending with Resource Financial Services, Inc.

Somewhat volatile day today.  Mortgage backed securities started the day off well and rates improved from closing yesterday.  However, the auction results on the 5 year notes did not go well, and with the release of the FOMC minutes (nothing really newsworthy) bond yields headed back up, increasing rates after lunch.  The DOW finished the day down 142pts to finish the day at 11,036.  Oil was down 49 cents a barrel and closed at $81.25.  Tomorrow will be a busy day ahead of the Thanksgiving holiday.  Reports due out on initial jobless claims, durable orders, consumer sentiment, and more.  Have a great evening!!

Comments (1)

Mike Morrison
Will & Will Real Estate Brokers, The Woodlands, Texas - Houston, TX

Ashley, thank you for the market wrap. However, most of the folks reading your post have no clue, not even a hint what the MBS spreads, treasury yields and FOMAC mean or have to do with the Housing Market. Sad,Sad,Sad.

These are the same folks that think there is a majic fix for all of this and business will go back to usual next year. 

Nov 23, 2010 12:08 PM