Mortgage Rates

Mortgage Rates Anthony Hood Equity Investment Capital Office: 949-891-0067 Email: tony@equityinvestmentcapital.com website: www.equityinvestmentcapital.com Mortgage backed securities (MBS) gained +62 basis points from Monday's close. This almost erased Monday's sell off of -68BPS, so far this week the net effect is that pricing is moving sideways. It was our second straight day of no major economic reports or Treasury auctions yesterday to guide traders. MBS moved upward right out of the gate, recovering some lost pricing after Monday's big sell-off. The reason for this? A temporary surge in demand from the emerging markets as fear of a Fed taper and subsequent higher U.S. rates, has the emerging markets scrambling to lock in some lower rates for their governments.