Monday, January 04, 2010 7:10 AM
Price Trend: Positive Price Volatility: High
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Current Conditions:
FNMA 4.5 100-03 (+8)
GNMA 4.5 100-11 (+7)
10yr Yield 3.815
Today's Economic Data
ISM Survey 7:00
Construction Spending 7:00
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Commentary:
The Mortgage Backed Securities market is off to a good start in 2010. In spite of a robust ISM number and
a stock market that is up over 100pts, mortgages have posted gains this morning. The ISM survey showed
continued growth in the manufacturing sector posting its highest reading in over 3 years. The "prices paid"
segment of the report came in higher than expected, too. Construction Spending continued to decline in
November as office vacancies and inventories of foreclosed homes continue to take their toll on the industry.
There is a lot of data being released this week. The main event is Friday's employment report. Wednesday
will also be busy with ISM Services, ADP employment and the release of the minutes from the last FOMC
meeting.
- Richard Sellers
- elitesellers@gmail.com
- Website
- www.arrowheadlifestyles.com
- Office Phone
- (909) 336-2131
- Cell Phone
- (909) 553-1897
- Fax
- (909) 336-2500
- Address
- 27206 Hwy 189, Blue Jay, CA, 92317
- Description
- "Life isn't about how to survive the storm, but how to dance in the rain."
- Real Estate Broker, DRE CA License #01148405
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