Home›Real Estate›Mortgages›MBS prices edge higher as Waller signals less need to…

MBS prices edge higher as Waller signals less need to hike

MBS were up 0.25 point while the 10-year Treasury yield fell 3.6 basis points to 4.744%.

Reported · Written up by our desk · Mortgages

Mortgage-backed securities (MBS) traded higher after Fed Governor Christopher Waller said the central bank probably did not need to hike at its upcoming meeting, depending on incoming data, according to Mortgage News Daily.

The report said Fed funds futures reacted quickly to Waller's remarks and largely held their gains through the day, though longer-dated rates later gave back much of the initial move gradually.

Mortgage News Daily also framed the market backdrop as a “wait and see” period ahead of Friday's jobs report and next week's inflation data, noting that the net effect felt like a less painful version of uncertainty.

By the end of the session, the outlet reported MBS were up 0.25 point and the 10-year Treasury yield was down 3.6 basis points at 4.744%.

More like this

Sources