Wed, Jun 20 2012, 11:38 AM
Here we are on the day that teenagers everywhere in the Northern Hemisphere
despise: the solstice. The sunrise in Nome is around 4:19AM. Even here in...
Wed, Jun 20 2012, 11:22 AM
MBS Live : MBS Morning Market Summary
Although MBS have outperformed Treasuries, and Treasuries have outperformed German Bunds , the latter ha...
Wed, Jun 20 2012, 10:19 AM
Lender Processing Services released
preliminary data this morning from its May Mortgage Monitor Report . The highlight of the report is that the
...
Wed, Jun 20 2012, 10:16 AM
Mortgage application volume
during the week ended June 15 fell back only slightly from the 18 percent gain
it scored a week earlier. The Mortgage Ba...
Wed, Jun 20 2012, 8:15 AM
Today is stone silent with the exception of the FOMC-related events, which are not only the most significant events of the week, but of the month as w...
Wed, Jun 20 2012, 4:24 PM
Mortgage Rates rose modestly today even before the FOMC-related events caused additional weakness in the afternoon. That said, the overall level o...
Wed, Jun 20 2012, 4:21 PM
MBS Live : MBS Afternoon Market Summary
Although MBS initially looked set to take today's FOMC Announcement harder than treasuries, a more ...
Wed, Jun 20 2012, 2:16 PM
Just a few quick points of order and few charts to update the current situation. The alerts from MBS Live at 12:55pm and 1:12pm will be included in t...
Wed, Jun 20 2012, 1:02 PM
Information received since the Federal Open Market Committee met in March April suggests
that the economy has been expanding moderately. Labor ma...
Tue, Jun 19 2012, 11:50 AM
Default rates fell in May for all types
of loans tracked by the S&P/Experian Credit Default Indices . For most loan types it was the fifth
consecu...
Tue, Jun 19 2012, 11:32 AM
MBS L ive : MBS Morning Market Summary
Fannie 3.5's and 3.0's may not be quite into posit ive territory, but they're certainly perfor...
Tue, Jun 19 2012, 10:32 AM
The
American Recovery and Reinvestment Act of 2009 (Recovery Act) allotted $4
billion to the Department of Housing and Urban Development's (HUD) Pub...
Tue, Jun 19 2012, 10:29 AM
Do we really need Congress writing or approving the industry's disclosure
forms? Can't it pick on the rental car agreement forms that no one reads,...
Tue, Jun 19 2012, 10:03 AM
The EU-US Coalition on Financial
Regulation is calling on policy makers in the US and the European Union (EU) to
resume discussions of a framework t...
Tue, Jun 19 2012, 9:49 AM
The U.S. Census Bureau and the
Department of Housing and Urban Development reported this morning that permits
for the construction of new privately-...
Tue, Jun 19 2012, 9:18 AM
The Consumer Finance Protection Bureau ( CFPB )
rolled out another new consumer tool this morning, an on-line complaint
database . The database,...
Tue, Jun 19 2012, 8:02 AM
In case anyone or anything needed to reemphasize the extent to which Wednesday's FOMC events dominate this week, take yesterday's trading for example....
Tue, Jun 19 2012, 4:20 PM
MBS Live : MBS Afternoon Market Summary
After having to cope with getting pushed gradually wider in yield vs Treasuries, MBS had a chance t...
Tue, Jun 19 2012, 2:48 PM
Mortgage Rates were nearly unchanged to slightly higher depending on the lender in question. The pre-rounded average from our best-execution calc...
Tue, Jun 19 2012, 1:13 PM
Thanks to
problems in Europe and the slowing of both the US and Chinese economies,
consumer attitudes have plateaued after several months of improve...
Mon, Jun 18 2012, 11:22 AM
MBS Live : MBS Morning Market Summary
As can be noted in the live updates below, bo nd markets have been working out their response to th...
Mon, Jun 18 2012, 10:57 AM
The National Association of Home Builder's
( NAHB )/Wells Fargo Housing Market Index (HMI) ticked up one point this month to
reach its highest poi...
Mon, Jun 18 2012, 10:03 AM
Don't do the crime if you can't do the time. Another ex-exec (the CFO) at
Taylor Bean Whittaker is now going to prison for five years.
Rates ar...
Mon, Jun 18 2012, 8:06 AM
Greek elections over the weekend yielded the less dramatic result of a victory for pro-bailout conservatives. This is ostensibly a good thing for the...
Mon, Jun 18 2012, 4:09 PM
MBS Live : MBS Afternoon Market Summary
With the exception of a few outlying trades, MBS traded an insanely narrow range today (between 105-0...
Mon, Jun 18 2012, 3:07 PM
New comparative tables from the 2010 Census underline both
the importance of homeownership to building wealth and the havoc wrecked by the
recess...
Mon, Jun 18 2012, 2:48 PM
Mortgage Rates were slightly lower again today after hitting new all-time lows on Friday. It continues to be the case that different lenders are a...
Sat, Jun 16 2012, 1:30 PM
The lender/investor/M&A/vendor/training/conference updates
keep coming. As always, it is best to read the actual bulletin, but these
recent notes ...
Fri, Jun 15 2012, 11:37 AM
MBS Live : MBS Morning Market Summary
A similar theme is playing out this morning where we find 10yr TSYs digging into the 1.5's and MBS havin...
Fri, Jun 15 2012, 10:32 AM
Financial institutions that received emergency funds from
the Federal Government during the financial meltdown of 2008 continue to repay
that debt t...
Fri, Jun 15 2012, 10:01 AM
On June 15, 1752, Benjamin Franklin performed his famous kite experiment,
proving that lightning is a form of electricity. Something that seems to be...
Fri, Jun 15 2012, 8:33 AM
A few weeks back, we very reluctantly capitulated to conformity and used the term "Grexit" one time (potential Greece Euro-zone exit). It felt wrong....
Fri, Jun 15 2012, 5:18 PM
MBS Live : MBS Afternoon Market Summary
The most recent alert at 1:32pm effectively serves as the recap. So this is more of a recap of the...
Fri, Jun 15 2012, 1:51 PM
Mortgage Rates were noticeably lower today at some lenders and only slightly lower at others. The net effect is an average Best-Execution rate tha...
Fri, Jun 15 2012, 1:11 PM
The two government sponsored enterprises
(GSEs) Freddie Mac and Fannie Mae completed nearly twice as many foreclosure
prevention actions in the fi...
Thu, Jun 14 2012, 11:41 AM
Steadier job growth and improving
consumer confidence are now boosting home sales and home prices may finally
find a bottom this year according to t...
Thu, Jun 14 2012, 11:28 AM
The New York State Assembly will soon consider
a bill that, if passed, would broaden the definition of mortgage foreclosure
fraud to include "rob...
Thu, Jun 14 2012, 11:15 AM
MBS Live : MBS Morning Market Summary
The morning's data was mostly ignored, save for the short-lived initial bond market rally. Everythin...
Thu, Jun 14 2012, 10:08 AM
Lenders
appear to be getting a grip on the nation's foreclosure inventory according to a
report released Thursday by CoreLogic.
The foreclosure or...
Thu, Jun 14 2012, 9:58 AM
Regardless of size, regardless of defense, regardless of current QC
measures, buybacks are an issue at every level. PNC , #17 lender by
volume in t...
Thu, Jun 14 2012, 9:50 AM
Foreclosure
filings topped 200,000 during May for the first time in two months but filings
were still below the rate a year earlier according to th...
Thu, Jun 14 2012, 4:18 PM
MBS Live : MBS Afternoon Market Summary
Not too much to say about what's going on here... In the longer term, trading ranges have been con...
Thu, Jun 14 2012, 3:37 PM
Mortgage Rates improved slightly today after rising somewhat yesterday. All in all, the movement was muted, and most of it served to narrow the g...
Thu, Jun 14 2012, 2:50 PM
Benchmark TSYs and rate sheet influential TBAs are continuing their consolidative
ways today.
I describe this behavior as the market " stori...
Wed, Jun 13 2012, 12:35 PM
The National Association of Home Builders (NAHB) list of
improving housing markets continued to show sizeable shifts as small changes in
the metri...
Wed, Jun 13 2012, 12:32 PM
Industry experts believe that one of the several reasons Countrywide fell
was because of their quest for market share for its own sake, rather than h...
Wed, Jun 13 2012, 11:55 AM
MBS Live : MBS Morning Market Summary
Bond markets walked in the door in moderately weaker territory today, but firmed up following weaker...
Wed, Jun 13 2012, 10:18 AM
There was
absolutely no bad news out of the Mortgage Bankers Association's Weekly Mortgage
Applications Survey this morning. Results
of the survey...
Wed, Jun 13 2012, 8:26 AM
After the first two days of the week offered very little by way of data and events--a mostly uneventful 3yr Note Auction and a similarly unimportant I...
Wed, Jun 13 2012, 4:13 PM
MBS Live : MBS Afternoon Market Summary
Today was really Treasuries' time to shine. Even in the overnight session, 10's were doing much b...
