mortgagerate: Durable Goods Report Helps MBS - 12/23/19 06:23 AM
This morning's Durable Goods report (for November) was below expectations and sparked a rally in the Mortgage Backed Securities (MBS) market.
Expectations were for a 1.5% increase The report showed a decline of -0.2% The biggest reason for the decline in Durable Goods can be attributed to Boeing. Defense and Aircraft orders (or lack there of) were a big reason for the decline; most other areas showed decent gains.
What does this mean for mortgage rates?
It will help keep a lid on the recent trend in which mortgage rates were inching higher as we head into the holiday season. Overall though, mortgage … (0 comments)

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Kevin O'Connor

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Riverside, CA

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