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Confidence Falls
Weak data has lifted MBS today. Consumer Confidence declined to 78.1, below the consensus of 81.0. The December S&P/ Case-Shiller 20-city home price index showed a slight decline from November, but it was still 13% higher than one year ago.
The results from the 2-yr Treasury auction will come out around 1:00 et.
MBS prices correlate and are inversely related to today's mortgage rates available from U.S. banks and lenders. When MBS prices rise, mortgage rates tend to fall. When MBS prices fall, mortgage rates tend to rise. In general, a .250 change in MBS pricing corresponds to a 0.125 percentage point change in mortgage rates.
MBS pricing is provided by MBSQuoteline, a mortgage pricing subscription service available to loan officers, real estate agents, and finance professionals. Today's mortgage rates are based on the real-time pricing shown above.
via:http://themortgagereports.com/14499/todays-mortgage-rates-real-time-mbs-pricing-for-february-25-2014?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheMortgageReports+%28The+Mortgage+Reports%29
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