Industry News
Mortgage Industry News
Daily Market News
05/25/2011
It has been a volatile morning, and MBS prices reached a low of -3/32. April Durable Orders fell -3.6% from March, weaker than the consensus forecast of -2.0%, and the largest monthly decline since October 2010. Durable Orders rose 4.4% in March, however, so they still increased a little over the last two months. ECB officials stated that Greece must adopt tough austerity measures to remain a member of the Euro zone. The Dow is up 10 points. No more economic data will be released today. The results from the $35B 5-yr Treasury auction will come out around 1:00 et.
