Market Analysis

Iron Harbor Mortgage - Market Update 11/12/2009 and 11/13/2009
November 13th, 2009 11:15 AM

While the US Treasury market is relatively flat, the market for Fannie Mae and Freddie Mac mortgage-backed securities (MBS) continued to improve this morning.  In economic news, the Univ of Michigan Consumer Sentiment index fell to 66 (vs expected 71.0).  Also the trade deficit for September increased to $36 billion (vs expected 32.5 billion).  US stocks continue to climb, with the Dow up to 10,290.

In economic news yesterday, Initial Jobless Claims for the Week ended 11/7 fell by 12,000 (vs expected no change).  Also the $16 billion 30 year note 3rd leg of the US Treasury's $81 billion in auctions for the week had softer demand than expected.  The bid/cover ratio was 2.26 and the yield was 4.469%.

Posted by Matthew Breston on November 13th, 2009 11:15 AMPost a Comment (0)
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