My Mind on Mortgages » jan 22 2010 MBS report http://evanswanson.com Evan Swanson (NMLS 120856), a mortgage professional and CERTIFIED FINANCIAL PLANNER™ with Mortgage Trust, Inc. (NMLS 3250) in Portland, shares his knowledge, thoughts & advice on mortgage & financially related topics Fri, 10 Feb 2012 01:19:37 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Rate Update January 22, 2010 http://evanswanson.com/rate-update/rate-update-january-22-2010/ http://evanswanson.com/rate-update/rate-update-january-22-2010/#comments Fri, 22 Jan 2010 14:06:31 +0000 Evan http://www.evanswanson.com/?p=2560 Mortgage rates are unchanged from yesterday.

The US Treasury announced yesterday that they would auction $118 billion in note supply next week. The size of the auctions was in line with expectations so it did not impact the markets.

Since the beginning of January mortgage rates have improved along with the yields on longer duration fixed income securities (see the 10-yr Treasury note below). In fact, mortgage-backed bonds have improved on 10 of the first 13 trading days of 2010 (when MBS prices rise it pushes rates lower). This is building up technical resistance which will cause rates to reverse at some point in the future.  The question is when…we’ll keep a locking bias since rates are so good right now.

10-yr Treasury Yield

10-yr Treasury Yield

Current outlook: locking bias


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