Loan and Mortgage

Matt Villano is a freelance writer and editor who contributes regularly to The New York Times, San Francisco Chronicle, Sunset, Coastal Living and TravelChannel.com. He recently mortgaged his first house in Healdsburg, Calif. More about this author. Close Window Matt Villano

Matt Villano is a freelance writer and editor who contributes regularly to The New York Times, San Francisco Chronicle, Sunset, Coastal Living and TravelChannel.com. He recently mortgaged his first house in Healdsburg, Calif.

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Perhaps it’s due to yesterday’s sell off, or perhaps there is support from weak economic data, but even in the face of dismal inflation data, MBS are holding steady on the day.the 5.5% coupon is actually trading up right now by 6/32nds. This is truly amazing considering we’ve received some of the worst inflation numbers in over 20 years. The core Producer Price Index came in at .4%, double the expectation of 2%. This should have destroyed rates this morning, but it hasn’t. There are a couple mitigating factors.

The economy is obviously weakening hourly with more companies releasing bad earnings, a weak consumer, and a weak housing market.

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