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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (8079)	6/19/2004 11:24:00 AM
From: russwinter	Respond to of 116555

Follow up on MBAA numbers for 6-11: original post: Message 20213473 Despite a nice jump in rates: 30 year to 6.34% from 6.25%, and one year ARM to 4.08% from 3.94%, the purchase index went UP anyway from 432 to 449, very robust. 34.7% of all loans were ARMs. The bond market rallied () back this week, so no reason to expect an index drop this week either. () The yield curve does continue to flatten however, with the 2/10 spread narrowing this week from 200 to 194. bondtalk.com