grauteam | mortgage update 12.27.2007

This has been a pretty light week for economic reports. Bonds have been taking their direction from Stocks. The Case-Shiller Price Index for October showed a 6.1% decline in home prices. We had a -141bp swing in the last 4 business days. Currently FNMA 30-Year 5.5% Mortgage Backed Securities are up on the day.