Market Analysis

Below is a 10 day chart of the Fannie Mae 5.5% mortgage-backed security (MBS) from Larry Baer's Market Alert site.  The price going up means lower rates and the price going down means higher rates. You can see how much the market has swung today.  If the market does not open better on Monday we will most likely see worse rate sheets Monday as the adjustments made to rates today do not adequately cover the later afternoon damage done to the market.