Market Update 7/17/2008

Mortgage and Lending with CYPRESS MORTGAGE

Treasuries fell as U.S. stock futures rose, easing the haven appeal of government

debt. The two-year note yield rose 4 basis points to 2.47 percent at 7:20 a.m. in New

York, according to BGCantor Market Data. The 2.875 percent security due June 2010

fell 2/32, or 63 cent per $1,000 face value to 100 25/32. The market is about .25 worse

in discount this morning.

Comments (1)


The way I see it playing out for the next couple of weeks is the stock market will most likely continue to rally due to better than expected corporate earnings.  There has been a very apparent consistency with mortgage rate movement for the past 6 months.  The upward trend is obvious and for a maybe a week straight they go down and then right back up to an even higher level than before.  Then they come down, but not as low as did before and then they shoot right back up.

Jul 17, 2008 02:57 PM