Tue, Aug 11 2009, 6:20 PM
Tomorrow is FOMC Statement day...speculatively we are still waiting for stocks to selloff and note that the long end of the yield curve isnt priced t...
Tue, Aug 11 2009, 3:47 PM
The second quarter 2009 report was released on Tuesday. It reported that, while home prices have continued to fall for the 10th quarter in a row, the...
Tue, Aug 11 2009, 3:32 PM
As the close of the markets draws near, tsy's are at their best levels of the day at 3.68, having moved considerabley lower since 2:30 despite a moder...
Tue, Aug 11 2009, 2:14 PM
More to be appended here shortly...
Moderate risk of reprice for the worse as MBS have pushed to their lows of the day as stocks and tsy yields pus...
Tue, Aug 11 2009, 1:01 PM
Initial reaction is positive. Not much change in MBS or Tsy's at the moment. But have seen a few upticks... Jury still out, but so far, muted pre-F...
Mon, Aug 10 2009, 12:41 PM
The first three hours of trading have been pretty light with all three indexes trading marginally lower, failing to move higher. Equities rallied on F...
Mon, Aug 10 2009, 11:15 AM
Rates traders remain very DEFENSIVE of the behavior of stock markets. Fixed income rallies may not last long as market participants sell into strengt...
Mon, Aug 10 2009, 11:08 AM
In what was a volatile week, prices of mortgage backed securities moved progressively lower which unfortunately forced lenders to raise the par 30 yea...
Mon, Aug 10 2009, 8:28 AM
No significant data comes out Monday but the rest of the week should bring further confirmation that the economy turned a corner as the third quarter ...
Mon, Aug 10 2009, 8:23 AM
The AM So Far...
* 7 Ticks up on 4.5's, ticks up on the 10 yr
* 10yr futures above resistance (good)
* Not yet at Friday's opening le...
Mon, Aug 10 2009, 5:09 PM
For one of the only times in the history of the MBS Close, the entire commentary is obviated by the title. With little if any data that anyone really...
Mon, Aug 10 2009, 4:23 PM
With the Fed not expected to offer up any tapebombs and stocks leading TSY prices higher....today was simply a return to status quo, a mini correction...
Mon, Aug 10 2009, 1:40 PM
In and of themselves, today's gains are quite good, with the 4.5 currently up 18 ticks to 99-12. This in fact puts us above Pre- NFP levels including...
Fri, Aug 7 2009, 12:53 PM
Early reports from fellow mortgage professionals are indicating higher rates this morning. The par 30 year conventional rate mortgage is now in the 5...
Fri, Aug 7 2009, 11:45 AM
Fannie Mae posted a net loss of $14.8 billion in the second quarter, following up on a deficit of $23.2 billion from the first three months of the yea...
Fri, Aug 7 2009, 10:58 AM
After the better than expected NFP print the benchmark 10 yr TSY yield rose over 10bps to 3.88%. The selling pressure was noticeable in futures market...
Fri, Aug 7 2009, 8:30 AM
The only good news this AM is that Today's NFP was indeed the major guidance-giving, market-moving report we've been expecting. Bad News: it's not th...
Fri, Aug 7 2009, 8:21 AM
Employment indicators have been mixed this month but virtually all economists believe the labor market improved substantially relative to June, even i...
Fri, Aug 7 2009, 5:17 PM
When all was said and done today, the 4.5 coupon lost just 13 ticks after being as weak as 27 ticks down at one point this AM and 25 ticks down at a r...
Fri, Aug 7 2009, 3:49 PM
Treasuries and Stocks appear to have shown their hand for the day as the close of the stock market approaches. After 3 earnest attempts, the 10yr has...
Fri, Aug 7 2009, 3:12 PM
I use transparency as a weapon against the banks. I walk into a bank branch and snap a picture of their mortgage rates, on the lobby sign. I e-mail ...
Fri, Aug 7 2009, 1:33 PM
Activity remains quiet early in the afternoon hours on this summer Friday. The FN 4.5 has moved 11 ticks (11/32) off the lows of the day. Some lenders...
Fri, Aug 7 2009, 1:29 PM
Buoyed by the first reversal in the unemployment rate in 15 months, markets are up more than 1% on Friday, which will give the benchmark S&P 500 its f...
Thu, Aug 6 2009, 12:28 PM
Weaker than expected economic data on the services sector of our economy lead to a brief rally in mortgage backed securities yesterday. However, as t...
Thu, Aug 6 2009, 10:28 AM
Although this morning stocks moved lower as profit takers set out to time a top before tomorrow's NFP print, fixed income market participants have bee...
Thu, Aug 6 2009, 8:27 AM
The only major data coming out today is the weekly jobless claims report, a survey that hasn’t been too reliable recently due to seasonal adjustment i...
Thu, Aug 6 2009, 8:21 AM
The AM So Far...
* 4 ticks up on 4.5's. Currently at 99-14
* BOE announces surprise increase in QE, pound slides
* IF the dollar ben...
Thu, Aug 6 2009, 5:11 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between July 30 and ...
Thu, Aug 6 2009, 5:09 PM
Although the give and take wasn't quite as drastic as yesterday's, once again we saw prices travel in a confined range with an almost symmetrical patt...
Thu, Aug 6 2009, 4:54 PM
Despite opening higher after a weekly labor report beat expectations, markets are in the red for a second consecutive day as retailers post lower resu...
Thu, Aug 6 2009, 3:46 PM
The Federal Reserve took a break from buying today. Servicers and Originators sold over $4bn "rate sheet influential" MBS today, $2bn of which was ...
Thu, Aug 6 2009, 1:53 PM
After two weeks of modest increases, mortgage rates drifted down during the week ended August 6 according to results of Freddie Mac's Primary Mortgage...
Thu, Aug 6 2009, 1:38 PM
The White House today responded to recent questions raised, among other places, by an article in today's Washington Post, about the potential phasing...
Thu, Aug 6 2009, 1:19 PM
James B. Lockhart, director of the Federal Housing Finance Agency announced on Thursday that he is leaving the agency. Mr. Lockhart has been director...
Wed, Aug 5 2009, 12:04 PM
In mortgage world, the "rate sheet influential" FN 4.5 has recovered early morning losses and rallied back up to yesterdays range. Although prices hav...
Wed, Aug 5 2009, 10:15 AM
Profit takers are out in stock markets this morning, leading TSYs rate sheet influential MBS prices higher. The Federal Reserve will be conducted coup...
Wed, Aug 5 2009, 8:45 AM
News from the labor market dominates the data front for the next few days, beginning with the ADP private employment report early this morning.
Th...
Wed, Aug 5 2009, 8:33 AM
The AM So Far...
* 4.5's down 10 ticks so far this AM...
* Insult to injury for TBW devotees...
* ADP employment "less bad"... Down...
Wed, Aug 5 2009, 8:20 AM
National mortgage rates moderated in the week ending July 31, spurring demand for new loans after a slump in the previous week, according to a weekly ...
Wed, Aug 5 2009, 5:21 PM
Overnight market movements saw MBS and Tsy's move to their worse levels since mid July. Shortly thereafter weaker than expected ISM data gave equitie...
Wed, Aug 5 2009, 4:06 PM
Early in the session stocks showed signs of weakness, allowing TSY and "rate sheet influential" MBS coupons an opportunity to rally to the highs of th...
Wed, Aug 5 2009, 3:03 PM
The S&P has broken the 1,000 price mark, unfortunately since the yield curve and MBS are taking directional guidance from the stock lever....the 10 y...
Wed, Aug 5 2009, 2:10 PM
This far into 2009 we've become almost spoiled by a pleasant lack bank failures among the most common names to the mortgage crowd. Chases TPO drama w...
Wed, Aug 5 2009, 1:47 PM
"TAYLOR, BEAN & WHITAKER MORTGAGE CORP. (“TBW”) RECEIVED NOTIFICATION ON AUGUST 4, 2009 FROM THE U.S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FR...
Wed, Aug 5 2009, 1:36 PM
This morning, mortgage backed securities began to continue their recent trend of moving lower in price which tends to increase mortgage rates, however...
Wed, Aug 5 2009, 1:06 PM
Markets opened lower Wednesday after two labor reports before the bell were softer than expected, and when another report on the services sector faile...
Tue, Aug 4 2009, 12:33 PM
Following better than expected manufacturing data, domestically and abroad, Treasuries and Mortgage Backed Securities sold off yesterday, returning al...
Tue, Aug 4 2009, 11:05 AM
Further selling has been observed in the long end of the yield curve....pushing the 10 yr TSY note to an intraday high of 3.70%. Two attempts to recov...
Tue, Aug 4 2009, 11:05 AM
Pending Home Sales were expected to advance for the fifth straight month in June, but the gain was supposed to be meager. Instead, sales jumped 3.6% i...
Tue, Aug 4 2009, 10:02 AM
Following a better than expected Pending Homes Sales print (+3.6% vs. expected +0.6%), the 10yr TSY note yield rose 7bps from 3.58 to 3.65. Consequen...
