Daily Market Update 9/15/10

Rates held steady Wednesday on mixed economic data. Mortgage-backed securities (MBS) initially fell as August Import Prices, excluding oil, rose 0.3%, raising inflationary concerns. MBS prices soon recovered as Industrial Production for August reportedly increased by 0.2%, less than expected. The Empire State regional manufacturing index declined to 4.1 from 7.1, well below forecast. The Mortgage Bankers Association weekly purchase activity index fell by 0.4%, while the refinancing activity index dropped by 10.8%. Average reported 30-year fixed rates for the week ending 9/13 fell to 4.47%, not including fees. No other data will be released today.

Leave a Reply

Your email address will not be published.

Back to top