Market Update

Well folks, with no economic data coming out today the market is still drifting in a wide range.

MBS ( Mortgage Backed Securities ) prices are down -1/32 which is about 7/32 lower than yesterday at this time.

Looks like it is going to be all about Greece today. Intensified concerns about the economic situation in Greece has added to the volatility in global bond markets. Concern over a potential liquidity shortage is fueling a sharp selloff in Greek debt and equity markets. As it stands the market is worried that the Greek banks will have trouble meeting immediate funding needs!

Will keep you posted.

Thorsten Bernacki
Envoy Mortgage