MBS prices are down -3/32 (FNMA 30-yr 4.5 at 101.00), which is about 1/32 higher than yesterday at this time. The 30-yr fixed FNMA required net yield (60 day) is now at 4.76% from 4.76% yesterday.
This morning, the ADP private payrolls firm's estimate for Friday's Employment report matched expectations. The Dow is up 40 points. ISM Services will be released at 10:00 et and the Fed's Beige Book will be released at 2:00 et.
The Mortgage Bankers Association weekly purchase activity index rose 9%, while the refinancing activity index increased by 17%. Average reported rates for the prior week fell to 4.95% from 5.03% for 30-yr fixed mortgages.
This morning, the ADP private payrolls firm's estimate for Friday's Employment report matched expectations. The Dow is up 40 points. ISM Services will be released at 10:00 et and the Fed's Beige Book will be released at 2:00 et.
The Mortgage Bankers Association weekly purchase activity index rose 9%, while the refinancing activity index increased by 17%. Average reported rates for the prior week fell to 4.95% from 5.03% for 30-yr fixed mortgages.
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