Daily Market Update 11/9/10

Mortgage rates moved higher Tuesday as unfavorable repricing took place throughout the day. No economic data came out today, but investors expressed concerns about owning mortgage-backed securities (MBS) at current yields as the Fed moves forward with its “quantitative easing” plan. The dollar has been moving lower and commodities prices higher since last week’s Fed announcement. Many analysts expect inflationary pressures to build in the coming months. Import Prices, the Trade Balance, and Jobless Claims will be released tomorrow. The MBS market will be closed Thursday in observance of Veteran’s Day.

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