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Market Update

Thu, Aug 14 – 1:30 PM ET
A stronger trading US dollar due to hot CPI inflation has led to lower oil prices. Lower oil has in turn led to a rebound in stocks, but mortgage bonds manage to hang onto their modest gains (+12bp).

11:44 AM ET – Mortgage Bonds clinging to meager gains. Stocks move from the red well into positive territory.

9:32 AM ET – The Bond market shrugs off the higher infaltion data and move to near unchanged levels. Stocks under pressure at the open.

8:37 AM ET – Mortgage Bonds open higher but move into the red after a hotter than expected CPI is reported. The move lower is somewhat stabilized by a higher than expected Initial Claims release. Stock futures point towards a lower open.

Mortgage Interest Rates*

Rates as of Thursday, 14th August, 2008:

*Rates are subject to change due to market fluctuations and borrower’s eligibility.