October 22nd Mortgage Market Wrap-up

MBS prices are up +4/32 (FNMA 30-yr 5.5 at 100.81), above the initial price level at +2/32. It was a volatile session, and MBS markets moved between unchanged levels and a high of +10/32.  No economic data came out today. The main story was a large decline in the stock market due to investor concerns about slowing economic growth, and the Dow lost over 500 points. Oil prices fell $5 per barrel to $67 per barrel, the lowest level since June 2007. Tomorrow, Jobless Claims will be released at 8:30 et.