MBS are down -15/32 (FNMA 30-yr 3.5 at 1

MBS are down -15/32 (FNMA 30-yr 3.5 at 103.15), around 10/32 below morning levels, and near the low for the day. Unfavorable repricing took place. MBS moved lower early in the session, and comments from a Fed official caused them to decline more this afternoon. The Fed’s Lockhart said that he feels that the economy would have to perform significantly worse than expected to prevent the Fed from raising the federal funds rate in September. Investors increased their expectations for a September rate hike after the comments. The Dow is down 50 points. Tomorrow, ADP Employment Change, the Trade Balance, and ISM Services will be released. The key Employment report will come out on Friday.

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About Best Florida Mortgage Company! Jim Marcinkowski

Mission Statement Our mission is to be the home financing partner that you trust to serve your family, friends and community. Through our family of dedicated mortgage professionals, our commitment is to deliver an exceptional experience. Our unwavering dedication to integrity, honesty and ethics is the foundation of all of our relationships. NMLS 182565, NMLS 1016
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