Wed, Oct 2 2013, 1:37 AM
Weeks that contain the Employment Situation Report (NFP) are
supposed to be all about NFP. Yet here we are in the midst of a
government shutdow...
Tue, Oct 1 2013, 11:59 AM
MBS Live : MBS Morning Market Summary
++INSERT COMMENTARY HERE++
MBS Pricing Snapshot
Pricing shown below is delayed, please note...
Tue, Oct 1 2013, 7:01 AM
The day is young, but at midnight eastern, we have no Shutdown
resolution and the Senate is ostensibly out until 930am ET. Overnight
markets gree...
Tue, Oct 1 2013, 5:05 PM
Mortgage rates were flat to slightly higher today, depending
on the lender. Overall, rates are still very close to their best
levels since Ju...
Tue, Oct 1 2013, 4:39 PM
Bond markets were ready to take short term guidance from the
"government shutdown" resolution or lack thereof. This has been far
from a primary m...
Mon, Sep 30 2013, 12:24 PM
Bond markets started the day in slightly stronger territory though
remained in line with Friday's latest levels. Overnight events were
supportive...
Mon, Sep 30 2013, 7:17 AM
A lot about how the week shapes up depends on what happens by
midnight tonight with respect to the 'government shutdown.' The
government agency r...
Mon, Sep 30 2013, 6:45 PM
Mortgage rates rose very slightly today for
the first time in 3 weeks. The difference in rate sheets compared to
Friday's latest was minimal,...
Mon, Sep 30 2013, 4:50 PM
In the context of the nearly month-long rally in place since Sep
6th, today's MBS movements were more volatile than average. Fannie
3.5s started...
Fri, Sep 27 2013, 12:34 PM
MBS began the day in an unassuming stance. Treasuries had just
rallied sharply in the overnight session with 10's moving from 2.67 to
under 2.63,...
Fri, Sep 27 2013, 8:29 AM
Last week's FOMC statement and all that's followed have acted the part of Occam's Razor
in reducing the ifs and thens of bond market movement to p...
Fri, Sep 27 2013, 5:36 PM
The trading day is essentially over and MBS are heading out 3 ticks
higher than the levels reported in the last alert. This is enough to
obviate ...
Fri, Sep 27 2013, 4:29 PM
Mortgage rates fell noticeably today, keeping
alive an impressive streak of 13 days without higher rates. Three out
of those 13 have been 'un...
Thu, Sep 26 2013, 12:56 PM
MBS opened just a tick under yesterday's latest levels and have
mostly moved weaker from there. Treasuries similarly started the day
just above y...
Thu, Sep 26 2013, 8:00 AM
In a similar vein to yesterday's outlook, we're still on guard against
any potential jolts from stronger data. Anything else, however, is
friendl...
Thu, Sep 26 2013, 5:10 PM
Bond markets were slightly weaker heading into today's session and
extended the weakness by very small steps after the day's meaningful
events. T...
Thu, Sep 26 2013, 3:47 PM
Mortgage rates were unchanged today, keeping
them in line with the lowest levels in over three months. This is the
12th business day in a row...
Wed, Sep 25 2013, 12:23 PM
Bond markets came into the domestic session in slightly weaker
territory, carrying some negative momentum from European hours. Volumes
were low, ...
Wed, Sep 25 2013, 7:23 AM
Today
- Focus is on Durable Goods and New Home Sales in the AM.
- Either one could help reinforce a pause in the rally if stronger than expec...
Wed, Sep 25 2013, 5:42 PM
Coming out of last week's FOMC Announcement, it seemed almost too simple
to conclude that this it marked a solid opportunity for rates to stop
c...
Wed, Sep 25 2013, 4:02 PM
Mortgage rates fell to new 3-Month lows today. That makes this the 11th straight day where rates have held steady or moved lower. Conforming, 30...
Tue, Sep 24 2013, 12:36 PM
Fannie 4.0s are trading in territory not seen since we passed it on
the way down back on June 19th. Today's gains have been slow and
steady, once...
Tue, Sep 24 2013, 7:14 AM
To be fair to Monday, there wasn't much by way of 'drama' detectable
in trading levels. After some early gyrations, MBS were generally
moving hig...
Tue, Sep 24 2013, 6:36 PM
MBS hit 3-month highs today--levels not seen since we crashed into
them at the end of the day on June 19th. Fannie 4.0s made highs at
104-16 the ...
Tue, Sep 24 2013, 4:03 PM
Mortgage rates were lower yet again, making
for an astonishing 10th consecutive day without rates moving higher.
In the 13 days of rate sheet...
Mon, Sep 23 2013, 12:07 PM
The week got off to an expectedly slow start in terms of volume and volatility, with prices holding
near Friday's latest levels for the first few ho...
Mon, Sep 23 2013, 7:56 AM
Monday is the quietest day of the week in terms of scheduled economic
reports, though we will get several Fed speakers and second-tier
manufacturi...
Mon, Sep 23 2013, 5:14 PM
Mortgage rates continued lower today, bringing
rates in line with the lowest levels seen during the past 4 months
(officially, 6-week lows as ...
Mon, Sep 23 2013, 4:40 PM
Several lenders were out with improved rate sheets this afternoon, as reported in real time by MBS Live
members. The underlying strength making su...
Fri, Sep 20 2013, 7:48 AM
Thinking about bond market trading levels in the context of "battle"
is fun. Analogies make technical concepts easier. So here's a brief
battle ...
Fri, Sep 20 2013, 4:53 PM
When we talk about consolidation, we're generally talking about MBS
Prices or interest rates moving counter, in some way, to a larger or
longer-te...
Fri, Sep 20 2013, 3:45 PM
Mortgage rates held steady today, keeping
them in line with the lowest levels seen since early August, and very
close to the lowest levels sin...
Fri, Sep 20 2013, 1:07 PM
With nothing on the calendar but Fed speakers and being a " quadruple witching "
day, we stood a chance to see some volatility this morning. So far...
Thu, Sep 19 2013, 12:19 PM
It's been an interesting session so far. MBS came in the door in
line with yesterday's latest levels, digested an oddly flavored Jobless
Claims r...
Thu, Sep 19 2013, 7:24 PM
There's a decent enough chance that if you didn't know what happened
yesterday, today's weakness would be just as frustrating as any other
weaknes...
Thu, Sep 19 2013, 6:56 AM
Yesterday rocked, plain and simple. A dichotomy had arisen between
the ostensible course of Fed policy and it's increasingly clear impact.
In ot...
Thu, Sep 19 2013, 5:19 PM
Mortgage rates moved moderately lower on
average today. Not all lenders improved, but most did. Those who were
in similar or higher territor...
Wed, Sep 18 2013, 12:44 PM
MBS and Treasuries are now back in to their best levels of the day
(pricing snapshot below is taken just after 11am, but we've improved
since then...
Wed, Sep 18 2013, 8:29 AM
There are two kinds of market watchers in the world: those who
believe the Fed plays the largest role in setting the pace of big
movement in bon...
Wed, Sep 18 2013, 5:34 PM
Mortgage rates surged lower today following the long-awaited policy announcement from the Federal Reserve. Conforming, 30yr Fixed rates fell to ...
Wed, Sep 18 2013, 5:03 PM
A "facemelter" is a long-standing MBS Live term for a gigantic rally
in MBS prices. The Fed caused one today by flipping the script on
market exp...
Wed, Sep 18 2013, 2:09 PM
Information received since the Federal Open Market Committee met
in July suggests that economic activity has been expanding at a moderate
pace. So...
Tue, Sep 17 2013, 12:08 PM
From this morning's MBS Live Update: The inevitable pall of silence leading up to FOMC Wednesday is much more
evident this morning, without the dist...
Tue, Sep 17 2013, 6:40 AM
Larry Summers gift to bond market trading on Sunday/Monday was that
we now have the honor of approaching Wednesday's FOMC events with the
"Larry S...
Tue, Sep 17 2013, 5:41 PM
We've been waiting for tomorrow, specifically, for nearly 4 months.
Competing reactions to the key components in the FOMC data make for an
utterl...
Tue, Sep 17 2013, 4:50 PM
As if to reinforce the gravity of the events that lie ahead, Mortgage rates were perfectly flat today, on
average, meaning that today's rate s...
Mon, Sep 16 2013, 12:03 PM
On Sunday evening, Larry Summers announced his withdrawal from
consideration for the Fed Chair position. Stock and Bond futures
rallied big durin...
Mon, Sep 16 2013, 7:25 AM
From the moment the Fed officially began considering a reduction in
asset purchases in late June, and even when unofficial consideration
ramped up...
Mon, Sep 16 2013, 6:16 PM
Mortgage rates improved again today, bringing
them to their best levels of month, just on par with rate sheets from
late August. Conforming, ...
Mon, Sep 16 2013, 4:32 PM
Interest rates have been determined and methodical about their slog
higher from May 2nd levels. That's been well over a full percentage
point bot...
