Both Mortgage Backed Securities and Treasuries held steady today in anticipation of tomorrow's ECB announcement. Recently, Global monetary policy has been the driving force for market movement. The top three players in the global economics game are the USA, Europe, and Japan. Great Britain also is notable for offering inspiration. Today's flat market indicates a pause before the announcement tomorrow, and also a breather from yesterday's rally, which was brought on by the ISM Non-Manufacturing data report. This week in general is a positive one for the bond markets, as it serves to disrupt the sideways trend that has been prominent over the past several weeks. Check back tomorrow to see more mortgage market news, and to get the most up to date mortgage news.
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• 30 year (FRM) rates at 3.38% (+0.03%).
• 15 year (FRM) rates at 2.73% (-0.02%).
• FHA 30 year Fixed rates at 3.20% (-0.05%).
• Jumbo 30 year Fixed rates at 3.50% (-0.02%).
• 5/1 ARM rates at 2.86% (+0.02%).
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