Industry News
Mortgage Industry News
Mortgage Market News
05/27/2011
MBS prices are down -5/32 (FNMA 30-yr 4.0 at 100.21), which is about 9/32 higher than yesterday at this time. Favorable re-pricing took place yesterday. It has been a volatile morning. The April Core PCE price index increased at a low 1.0% annual rate, matching expectations. April Personal Income rose 0.4% from March, also equal to the consensus forecast. The Dow is up 50 points. Several of the largest banks in the US are discussing possible settlement solutions with attorneys general over faulty foreclosures. Possible options include lowering principle, paying moving costs, and/or cutting fees. Pending Home Sales and Consumer Sentiment will be released and 10:00 et. MBS markets will close early and will be closed on Monday for Memorial Day.
