Mortgage Market Snapshot 10.28.15

Sorry for the late post today been a hectic end of month

Well in an unexpected turn the bonds took a 50 bps hit today as the Feds notes stated the economy is growing at a moderate pace yet exports are still weak. Yes this is a classic overreaction and one I think short lived so if you have not locked I would not advise doing it until the pricing has recovered as this is a pretty healthy hit compared to close yesterday. The FNMA 3.0 had points in iintraday pricing exceeding 101.750 but lost 50bps quickly after the economic notes were released.

Always fun but especially now as the rules of the game keep changing making it more expensive and tougher on us all.

Here are some of the market keys for today...