Tue, Oct 13 2009, 9:36 AM
Conference in San Diego continues; California adds several mortgage laws; Cubs declare bankruptcy
Tue, Oct 13 2009, 8:22 AM
The November FN 4.0 is trading +0-10 at 98-24 yielding 4.1307%. The November FN 4.5 is trading +0-09 at 101-06 yielding 4.3560%. The secondary market ...
Tue, Oct 13 2009, 8:21 AM
Tuesday morning begins on a light note but in the afternoon the Treasury releases its final budget statement for fiscal year 2009, and the third-quart...
Tue, Oct 13 2009, 5:16 PM
Over the summer we coined a new term based on the bouncy price action occurring in financial markets: CHOPATILITY. The lack of meaningful market direc...
Tue, Oct 13 2009, 4:13 PM
Heading into the 5pm "RATE SHEETS ARE UNCHANGED" marking period, rate sheet influential MBS coupons have given back a portion of their early afternoon...
Tue, Oct 13 2009, 2:54 PM
Rates rallied out the gate this morning. However, later in the day stocks began to recover losses and benchmark TSY and "rate sheet influential" MBS c...
Mon, Oct 12 2009, 12:19 PM
The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published r...
Mon, Oct 12 2009, 9:06 AM
October 12: News from BofA, Freddie, Flagstar; markets are like rubber bands, remember?
Mon, Oct 12 2009, 8:30 AM
Last week the S&P 500 added 4.5%, gold hit a record high, and the US dollar tested new lows for the year. So much for a turning point. This week begin...
Mon, Oct 12 2009, 4:38 PM
Markets opened higher on Monday and appeared steady throughout the morning, with all three indexes hitting intraday highs for the year. But at 2pm inv...
Fri, Oct 9 2009, 12:00 PM
Following a somewhat disappointing 30 year bond auction yesterday, prices of mortgage backed securities plummeted and mortgage rates moved higher as l...
Fri, Oct 9 2009, 10:14 AM
The FN 4.5 just made a new intraday low as the 10yr ticked over 3.32. The rate sheets we have seen were already noticeably worse than yesterday, howev...
Fri, Oct 9 2009, 8:38 AM
# After open weaker, MBS and tsy's are slightly improved AM
# Should clarify for tsy's "improved" only vs. overnight and early AM session. unchanged...
Fri, Oct 9 2009, 8:12 AM
President Barack Obama won the Nobel Peace Prize this morning. The 44th president is the third sitting president to receive the honor but the first to...
Fri, Oct 9 2009, 7:13 PM
As you can imagine – a lot of people ask me how I got my site to #1 on Google for a term like ‘mortgage brokers’ not to mention thousands of other hig...
Fri, Oct 9 2009, 4:47 PM
AHHHH....the FN 4.5 fell off the map at the end of the day!!!!HAHA...this joke never gets old. DONT PANIC. TODAY IS NOTIFICATION DAY (dont panic about...
Fri, Oct 9 2009, 4:28 PM
After slipping for two weeks, equities opened the fourth quarter with the best week over week rally since July.
The Dow closed above the 12-month h...
Fri, Oct 9 2009, 2:32 PM
The Congressional Oversight Panel charged with keeping an eye on TARP expenditures has released a report that questions the effectiveness of the HAMP ...
Fri, Oct 9 2009, 1:47 PM
Not a week goes by that someone doesn't send me a script for a Hollywood movie based on mortgage banking. Usually it is either a) zany comedy starring...
Fri, Oct 9 2009, 1:38 PM
Speaking of time flying, loan modifications, which seem to have more of an impact on the larger investors than on the smaller brokers, have come a lon...
Fri, Oct 9 2009, 1:12 PM
The aftermath of yesterday's duration shedding which has carried over into today: LOTS OF REPRICES FOR THE WORSE AND HIGHER MORTGAGE RATES. The FN 4.0...
Thu, Oct 8 2009, 11:18 AM
Despite better than expected jobless claims data, proof that business inventories are still contracting, improving retail sales, a weaker dollar, anot...
Thu, Oct 8 2009, 11:06 AM
A steady rally in benchmark Treasury yields yesterday helped prices of mortgage backed securities move to five month highs which allowed lenders to ke...
Thu, Oct 8 2009, 8:33 AM
The 10yr TSY yield initially spiked higher after jobless claims data...however selling slowed as yields bounced at 3.21%.Rate sheet influential MBS co...
Thu, Oct 8 2009, 8:14 AM
S&P 500 futures are looking to open 9 points higher following yesterday’s mixed session. Sentiment is up as Q3 earnings reports began yesterday, which...
Thu, Oct 8 2009, 6:54 PM
After the dust settled today, the 30yr bond was down over a point today whereas 4.5 MBS had only lost 3 ticks... There was plenty of sturm and drang ...
Thu, Oct 8 2009, 5:21 PM
The U.S. Departments of Treasury and Housing and Urban Development announced on Thursday that a goal of 500,000 loan modifications has been reached ne...
Thu, Oct 8 2009, 4:11 PM
The FN 4.0 is currently -0-05 at 99-18 yielding 4.050%. The FN 4.5 is currently -0-02 at 101-27 yielding 4.275%. The secondary market current coupon i...
Thu, Oct 8 2009, 3:03 PM
Mortgage rates just keep going down according to data released this week by both Fannie Mae and Freddie Mac. Both the 5-year Treasury-indexed hybrid ...
Thu, Oct 8 2009, 1:23 PM
As markets are given some more time to digest and show their hand, the bond bears are doing battle with trade flow considerations we discussed in MBS ...
Thu, Oct 8 2009, 1:23 PM
The day’s data has been mixed but sentiment continues to run high on Wall Street after third-quarter earnings posted after the bell yesterday beat exp...
Thu, Oct 8 2009, 1:01 PM
30 year bond auction results...
* $12 BLN 29-YEAR 10-MONTH BONDS AT HIGH YIELD 4.009 PCT, AWARDS 27.53 PCT OF BIDS AT HIGH
* BID-TO-COVER ...
Wed, Oct 7 2009, 12:12 PM
Prepayment speeds determine, to a great extent, the timing of principle cash flows back to the MBS investor. If forecasts of prepayment speeds are mi...
Wed, Oct 7 2009, 10:09 AM
Mortgage rates held below 5.00 percent for the third consecutive week helping refinance and purchase loan demand increase, according to a weekly repor...
Wed, Oct 7 2009, 9:33 AM
Equity markets look poised to extend the two-day rally this morning. The day ahead is light on data, with only the consumer credit report at 3pm, but ...
Wed, Oct 7 2009, 9:01 AM
The US dollar is recovering after taking a beating in currency markets yesterday. As the dollar gains against other currencies, oil and gold prices ar...
Wed, Oct 7 2009, 5:00 PM
When last week's NFP hit, the massive rally of the day before was confirmed. Volume was as high as it has been in a long time on both days. As you c...
Wed, Oct 7 2009, 4:06 PM
In NASCAR the GREEN flag signals the start or resumption of the race. A GREEN flag tells drivers to floor it! In the bond market, GREEN on the board m...
Wed, Oct 7 2009, 3:17 PM
Freddie Mac and Fannie Mae are reporting to be running a pilot program to help independent mortgage banks obtain warehouse type credit. The program, ...
Wed, Oct 7 2009, 1:34 PM
OK, the auction of the 10yr re-opening was fantastic... In case you missed the results or were otherwise in need of a bit more explanation as to thei...
Wed, Oct 7 2009, 1:17 PM
Stocks performed well in the Asian session on Wednesday, but trading in Europe was mixed and, at mid-day, it looks as though the US session will follo...
Wed, Oct 7 2009, 1:13 PM
Prices of mortgage backed securities held to a tight range yesterday, closing the day in essentially the same place they opened. The lack of volatilit...
Wed, Oct 7 2009, 1:01 PM
* $20 BLN 9-YR 10-MO NOTES AT HIGH YIELD 3.210 PCT, 12.77 PCT OF BIDS AT HIGH
* BID-TO-COVER RATIO 3.01, NON-COMP BIDS $41.9 MLN
* PRIMAR...
Tue, Oct 6 2009, 12:21 PM
The nitty gritty you need to take from this post:
* TSY supply/auctions, a lack of econ data, and the stock lever are influencing mortgage rate...
Tue, Oct 6 2009, 10:50 AM
It was a slow day in the fixed income market's yesterday. Mortgage rates were mostly unchanged as prices of mortgage backed securities bounced around ...
Tue, Oct 6 2009, 8:45 AM
Good Morning. Prices of "Rate Sheet Influential" MBS coupons are marginally lower this morning as benchmark yields rise ahead of TSY auctions. An unex...
Tue, Oct 6 2009, 8:22 AM
Futures in the S&P 500 are trading 10 points higher this morning following a global rally. In Asia, the Nikkei moved up slightly after three consecuti...
Tue, Oct 6 2009, 5:02 PM
3.27 and 3.30 have proven to be pivotal technical price levels in 10yr tsy yields. After rallying last week, all eyes have been on these levels to se...
Tue, Oct 6 2009, 3:51 PM
Rate sheet influential MBS coupons stuck to a tight price range today. The Federal Reserve and Asian accounts were aggressive buyers of FN 5.0s today...
Tue, Oct 6 2009, 1:28 PM
“Keep skunks and bankers at a distance” so the old saying goes. Mortgage bankers may have to ignore that saying, however, given some National Mortgage...
