Mortgage applications rose 7.8% for the week ending May 13, driven by a 13.2% jump in refinance applications. As a continued signe of weakness in the housing market, purchase applications fell 3.2%. The only remianing economic data for today will be the release of the minutes from the last FOMC meeting.
Treasuries are giving back some of Tuesday's gains lifting the yield on the 10 year note from 3.10% to 3.15%. Pricing for mortgage is worse by approximately .25%.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment