Bond prices improved this morning after Tuesday’s decline. In the news, mortgage applications for the week ending January 14th rose 5.0% on a 7.7% increase in applications for refinances, and a decline of 1.9% for purchase applications.
New housing starts fell more than expected from 553,000 in November to 529,000 in December, a 4.3% decline. However, in a bit of positive news in the housing sector, building permits rose 16.7% from 544,000 to 635,000 in December. This was the largest percentage increase since June of 2008 and comes despite the recent increase in mortgage rates.
Mortgage prices are .125% to .25% better from Tuesday’s close.
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