MBS prices are down -8/32 (FNMA 30-yr 4.0 at 102.19), which is about 16/32 lower than yesterday at this time. Unfavorable repricing took place yesterday. The 30-yr fixed FNMA required net yield (60 day) is now at 3.82%, from 3.80% yesterday. Early investors may have priced at higher levels.
Stronger than expected economic growth data has pushed MBS markets lower this morning. August Durable Orders declined -1.3% from July, which was close to the consensus forecast. Excluding the volatile transportation component, however, durable orders rose 2.0%, which was more than expected. The Dow is up 150 points. New Home Sales will be released at 10:00 et.
Source: MBSQuoteline.com
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