Industry News
Mortgage Industry News
MBS Prices Up
05/17/2011
MBS prices are up +7/32 (FNMA 30-yr 4.0 at 100.14), which is about 11/32 higher than yesterday at this time. Weaker than expected economic data has lifted MBS markets this morning. April Housing Starts declined 11% from March to an annual rate of 523K homes, below the consensus forecast of 560K. Building Permits, a leading indicator, also fell short of expectations with a decline of 4%. April Industrial Production was unchanged from March, below the consensus forecast of 0.5%. Manufacturing output was hurt by a shortage of parts from Japan due to the earthquakes. The Dow is down 50 points. No more economic data will be released today.
