Daily Market Update 1/10/13

Rates inched higher Thursday as stronger than expected economic data in China hurt mortgage-backed securities.  This morning, the European Central Bank (ECB) made no change in rates, as expected.  In the U.S., weekly Jobless Claims fell to 371,000, a bit higher than expected.  Results of today’s 30-year Treasury auction will be released at 1:00 PM.  In other news, the Consumer Finance Protection Bureau released its much anticipated Qualified Mortgage Rule.  The Rule, which takes effect one year from today, attempts to establish minimum underwriting standards, eliminate certain “risky” loan features, and limit originator compensation.

Leave a Reply

Your email address will not be published.

Back to top