Orlando Mortgage Blog

Dow Jumps Up 200 Plus Effects Rate Late Day

June 15th, 2010 7:53 PM by BILL WILBANKS


The Dow rose 214 points by the 4 PM close today and rates didn't go unscathed. We've seen four (4) rate sheet postings today. The opening sheet showed about a 10 bp improvement over yesterday. A nice start. About an hour later it improved again by another 10 bp only to be followed in the afternoon by a 25 bp worsening and then a final 22 bp additional worsening late in the afternoon. The net effect was a price increase from this mornings start of 37 bp taking the zero point, 30 year, 30 day owner-occupied quote from 4.625% to 4.75% by day's end. The 10 year Treasuries were up about 6 points at closing. Tomorrow's another day. Not much to blame other than the almost daily 2 to 3 hundred point Dow swings and flow of money based on that lately. Check out the last 4 paragraphs...

Posted in:General
Posted by BILL WILBANKS on June 15th, 2010 7:53 PM


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