Orlando Mortgage Blog

At 8:00 AM ET: It appears heavy selling has continued across most of the Treasury complex as the 3, 5, and 7 yr maturities see their yields up by at least  8 bps. The 10-yr yield is up 10.27 bps to 3.2341%, its highest since mid-June, compared to last nights close at 3.1314%. Remember Monday the 10yr closed at 2.922%. Based on yesterday's day long rise, those lenders that did not adjust what appeared to be the typical 3 to 4 times during the day are certainly in a three-point stance waiting on the gun this morning when rates are posted as the yield continues to move. I keep looking for some of that downward move some had been saying last week might be possible, still looking. So far the market appears to be chasing yield after the 2 year extension of the tax regulations.

Opening Price Sheet just came in 25 to 30 bps higher than close yesterday.