Mortgage Bonds Getting Hammered Today

Wow!  Look at this chart on mortgage bond prices today.  See that big red line near the far right?  That shows mortgage bond prices down 91 basis points today.

This is some ugly price action and expect mortgage lenders to be repricing rates to the worse today.

Today's price action is moving to new lows of the year, dipping under the lows we saw in March.

This action is coming off of Bernanke's testimony.  Let's hope we see some stabilization soon.


www.BrettGrendahl.com