Solarbird (solarbird) wrote,
Solarbird
solarbird

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_extremely_ briefly

tf:Zarathustra reports that the 30-year FNMA is trading down another 29/32nds mid-day. I'm not exactly sure of the translation ratios but I think this'll put the 30-year non-jumbo confirming first mortgage at somewhere around, hum, 6.1-6.2%ish, more than 50% over the target rate of 4% intended by the Treasury...

Okay, here's a chart now:

A waterfall like that will usually bring some sort of Fed or Treasury response, let's see what happens the rest of the day.
Tags: economics
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