Tue, Oct 20 2009, 10:56 AM
Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the ...
Tue, Oct 20 2009, 9:22 AM
The Departments of Treasury and HUD announced a new two-prong program to keep Housing Finance Agencies in the lending business. One part of the progr...
Tue, Oct 20 2009, 9:22 AM
News from Wells & GMAC; on reverse mortgages, the tax credit, and the commercial sector
Tue, Oct 20 2009, 8:46 AM
830am data was bond friendly. The 10yr Treasury yield is down to 3.33% from 3.39%. The FN 4.0 is +0-12 at 98-16. The FN 4.5 is +0-08 at 101-02. There ...
Tue, Oct 20 2009, 7:19 AM
US equities are poised to open at fresh one-year highs on Tuesday morning. Sentiment is higher owing to Apple’s post-closing bell announcement that it...
Tue, Oct 20 2009, 4:39 PM
Tue, Oct 20 2009, 4:12 PM
This is just an example of how MBS prices compare to returns of their benchmarks. Terms used often to describe relative value: yield spreads are wider...
Tue, Oct 20 2009, 2:09 PM
As MG pointed out in MBS MORNING, rate sheet influential MBS coupons are being outperformed by benchmark big brothers today. The FN 4.5 is currently +...
Mon, Oct 19 2009, 12:41 PM
Last week consumers who were floating loans watched mortgage rates rise almost 0.25%. After touching five month lows in the previous week, better tha...
Mon, Oct 19 2009, 11:00 AM
This morning the Federal Reserve formally addressed whispers regarding their intentions to conduct reverse repos in the open market. A "repo" is short...
Mon, Oct 19 2009, 9:38 AM
JD Powers Mortgage Servicer Rankings; $8,000 tax credit warning; YSP & FHA news
Mon, Oct 19 2009, 8:39 AM
Scheduled data doesn't show up until tomorrow, so the focus this AM is on Ben and beyond that, speculation and headline responses. So far this AM, MB...
Mon, Oct 19 2009, 8:31 AM
Last Week saw equities hit 12-month highs across the globe, including in Australia, Hong Kong, India, Russia, Europe, England, Brazil and of course th...
Mon, Oct 19 2009, 5:20 PM
After some morning volatility and a fairly directional rally in stocks, MBS and Tsy's settled into a range and Stocks seemed to hit the wall at 1100 o...
Mon, Oct 19 2009, 3:41 PM
Heading into the 5pm "BONDS PERFORMED WELL DESPITE RALLYING STOCKS" marking period the FN 4.0 is +0-04 at 98-09 yielding 4.1775% and the FN 4.5 is tr...
Mon, Oct 19 2009, 1:35 PM
After a noticeable spike in bond prices following the reverse repo press release this AM, both MBS and TSY's have settled back into an uneventful rang...
Fri, Oct 16 2009, 11:06 AM
The FN 4.0 is currently +0-02 at 97-26 yielding 4.225% while the FN 4.5 is trading +0-02 at 100-17 yielding 4.438%. The secondary market current coupo...
Fri, Oct 16 2009, 10:00 AM
Citi, BofA, MGIC earnings; every mortgage banker's nightmare; Fed purchase update
Fri, Oct 16 2009, 8:20 AM
There is no reason to believe the Fed will raise rates anytime soon thus yields in the short end of the curve will remain in record low territory...th...
Fri, Oct 16 2009, 8:19 AM
US equities are looking to open lower after an earnings report from Bank of America missed the mark this morning. On the week the S&P 500 remains up 2...
Fri, Oct 16 2009, 5:01 PM
Fri, Oct 16 2009, 3:51 PM
Heading into the 5pm "HOLY COW THE DOW HIT 10,000" marking period (please note sarcasm), the FN 4.0 is +0-10 at 98-02 yielding 4.199% and the FN 4.5 i...
Fri, Oct 16 2009, 2:27 PM
Equities opened lower this morning following disappointing earnings results from Bank of America, and losses were extended 25 minutes into the session...
Fri, Oct 16 2009, 2:07 PM
Mortgage rates moved slightly higher yesterday but managed to weather the storm of better than expected economic data and earnings reports. Today, mo...
Fri, Oct 16 2009, 1:30 PM
Thu, Oct 15 2009, 12:33 PM
Jobless claims are down, inflation is benign, and manufacturing conditions were positive for the third straight month, but trading is jittery as inves...
Thu, Oct 15 2009, 10:46 AM
The FN 4.0 is trading -0-12 at 97-25 yielding 4.228 while the FN 4.5 is -0-09 at 100-19 yielding 4.429%.The secondary market current coupon is 4.349% ...
Thu, Oct 15 2009, 9:25 AM
2010 mortgage production estimates; interest rate conjecture; FHA changes; does your biz rely on the tax credit?
Thu, Oct 15 2009, 8:32 AM
MBS and Tsy's are understandably worse given the above raft of data that is generally economically bullish. The exception obviously would be in the in...
Thu, Oct 15 2009, 8:14 AM
Equity futures are retaining gains after yesterday’s 1.75% climb. The day ahead is full of new economic data and sentiment is generally higher as earn...
Thu, Oct 15 2009, 7:34 PM
Before you get too excited at the sight of 3.50% across the headlines of a mortgage website , you should know that Treasuries are the topic of our foc...
Thu, Oct 15 2009, 5:21 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the four trading days between October 8 an...
Thu, Oct 15 2009, 4:15 PM
Lots of reason to believe the 10yr will be testing 3.50% tomorrow. All week the 10yr yield has has pushed higher and higher in the range. What's going...
Thu, Oct 15 2009, 3:57 PM
Local is one of the top three areas of online marketing that my clients ask me about, along with search engine optimization and social media marketing...
Thu, Oct 15 2009, 3:37 PM
Freddie Mac's Primary Mortgage Market Survey for the week ended October 15 was released on Thursday. The report showed all four mortgages tracked by ...
Thu, Oct 15 2009, 1:34 PM
The FN 4.0 is currently -0-11 at 97-26 yielding 4.2248% and the FN 4.5 is trading -0-11 at 100-17 yielding 4.4376%. The secondary market current coupo...
Thu, Oct 15 2009, 1:29 PM
The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as trade...
Wed, Oct 14 2009, 11:40 AM
The FN 4.0 is trading -0-10 at 98-12 yielding 4.1681% and the FN 4.5 is -0-07 at 100-30 yielding 4.387%. The secondary market current coupon is 4.299%...
Wed, Oct 14 2009, 11:27 AM
The Mortgage Bankers Association has issued an economic forecast that projects further increases in unemployment but continued low interest rates, hig...
Wed, Oct 14 2009, 9:30 AM
JP Morgan Chase Profits Exceed Expectations; Updates from GMAC, Wells, US Bank; Rates Rising
Wed, Oct 14 2009, 8:30 AM
September Retail Sales Data was just released...it was better than expected. The bond market, which was already weaker after JP Morgan earnings beat e...
Wed, Oct 14 2009, 8:11 AM
Demand for mortgage applications was unable to keep pace with the five-month peak reached in final week of September, according to the Mortgage Banker...
Wed, Oct 14 2009, 8:09 AM
With the dollar remaining weak, investors are finding other safe havens to store their money, which helped drive the price of oil past $75 for the fir...
Wed, Oct 14 2009, 6:20 PM
The FN 4.0 closed -0-17 at 98-04+ yielding 4.19% and the FN 4.5 closed -0-09+ at 100-28 yielding 4.397%. The secondary market current coupon is 4.313%...
Wed, Oct 14 2009, 2:31 PM
Plain and Simple: FOMC members have mixed outlooks on the residential real estate market and the proper exit from the Agency MBS Purchase Program. The...
Wed, Oct 14 2009, 1:42 PM
Reports from fellow mortgage professionals indicate that mortgage rates have moved higher into the 4.875% to 5.125% range for well qualified consumers...
Tue, Oct 13 2009, 12:44 PM
The House of Representatives has passed a bill that extends the first-time homebuyers tax credit for one year for military families and certain other ...
Tue, Oct 13 2009, 12:33 PM
Stocks are slipping, the dollar is down, and gold is at new highs. The Dow and S&P 500 closed at 12-month peaks on Monday but trading is skittish toda...
Tue, Oct 13 2009, 11:42 AM
Positive progress has been made all morning in the rates market, however as traders start to search for the lunch cart...stocks are heading higher and...
Tue, Oct 13 2009, 10:52 AM
The bond market was closed yesterday in observance of Columbus Day so mortgage backed securities did not trade. Regardless of that, several lenders is...
