Thu, Oct 7 2010, 8:49 AM
If the data doesn't match expectations, 10s would move into the low 2.30s% and rebate would improve a few more bps while MBS would lag a continued ral...
Thu, Oct 7 2010, 8:26 AM
Benchmark interest rates are marginally higher and equity futures are mixed following an awful report Wednesday on private employment from Automatic D...
Thu, Oct 7 2010, 4:52 PM
Loan pricing improved again today. Mortgage rates are on a five day winning streak. This is the first time that par 30-year fixed mortgage rates have ...
Wed, Oct 6 2010, 12:46 PM
Spurred on by a weak preview of official labor market data to come, the bond market upped the anti on quantitative easing this morning when the 10 yea...
Wed, Oct 6 2010, 8:17 AM
ADP says: "The decline in private employment in September confirms a pause in the economic recovery already evident in other data. A deceleration of e...
Wed, Oct 6 2010, 8:05 AM
Good Morning. Both stocks and bonds are both rallying (again) ahead of the ADP Employment Report.
Wed, Oct 6 2010, 5:58 PM
Fed Policy: CLEARLY ON EVERYONE'S MIND. Including mortgage rate watchers....
Wed, Oct 6 2010, 3:45 PM
While we do not yet see a reason to believe mortgage rates will dip below the record lows currently being offered by lenders, we do expect the uncerta...
Tue, Oct 5 2010, 10:25 AM
Rate sheet influential MBS coupons have been generally stable since ISM flashed. Yield spreads are however wider as origination supply has picked up ...
Tue, Oct 5 2010, 8:27 AM
After briefly breaking range support in a thinly traded marketplace yesterday, equity futures are recovering this morning as investors await a key ISM...
Tue, Oct 5 2010, 4:57 PM
NO CHANGE IN MORTGAGE RATES TODAY. PERHAPS A FEW MORE LENDERS ARE OFFERING PAR QUOTES BELOW 4.25% BUT NO QUOTE IS MONUMENTALLY BETTER THAN IT WAS YEST...
Mon, Oct 4 2010, 11:55 AM
MBS prices are moving higher as stocks tick deeper into the red. If your lender was a little lite on the rebate this AM...you might see reprices for t...
Mon, Oct 4 2010, 8:50 AM
The dominant headline this week will be Friday’s jobs report for September, which is expected to show growth in the private sector was offset by gover...
Mon, Oct 4 2010, 6:18 PM
While there's still room for prices to run higher (7/32), if you're into playing pivot points,MBS prices are due a reversal. Back month FNCL 4.0s have...
Fri, Oct 1 2010, 10:36 AM
Bill Dudley's dovish comments are still the primary focus of the bond market, but 10am helped move the needle in an originator friendly direction.
Fri, Oct 1 2010, 8:31 AM
Personal Income and Spending data has been released. Spending rose 0.4%. Income improved 0.5%. Both metrics were slightly better than expected but wel...
Fri, Oct 1 2010, 8:19 AM
The day ahead is filled with data and fedspeak and both stocks and bonds are ready to react to whatever crosses wires. Ninety minutes before the bell ...
Fri, Oct 1 2010, 4:50 PM
The main driver behind the bond market at the moment is the potential for further Federal Reserve quantitative easing. This means economic data will p...
Fri, Oct 1 2010, 3:22 PM
Mortgage rates touched all-time lows on Tuesday and Wednesday this week. Although these quotes were not widespread, lenders were seen offering mortga...
Thu, Sep 30 2010, 12:08 PM
Stop the presses! After touching 4.5 month highs following the release of Chicago PMI data at 9:45, profit taking has led stocks back into the red. S...
Thu, Sep 30 2010, 9:46 AM
Chicago PMI printed at 9:45. It was much much better than expected, led by gains in the new orders index. The prices paid index on the other hand fell...
Thu, Sep 30 2010, 8:34 AM
830AM data has been released. Both Jobless Claims and final Q2 GDP beat consensus estimates (barely). Stock futures better, benchmark bond yields up, ...
Thu, Sep 30 2010, 8:23 AM
On this final day of September and final day of the 3rd quarter, after a busy overnight session in which Ireland’s finance minister declared his count...
Thu, Sep 30 2010, 6:41 PM
If you are still floating, we must revisit our "Float at the MBS Price Lows, Lock at the MBS Price Highs" strategy. Currently MBS prices are directly ...
Wed, Sep 29 2010, 11:35 AM
With rebate already a few bps weaker on the open, reprices for the worse don't appear to be an issue at the moment. However if 2.50% support is broke...
Wed, Sep 29 2010, 8:28 AM
Benchmark interest rates are modestly higher and equity futures are mixed as investors prepare for a dataless U.S. trading session, this puts the focu...
Wed, Sep 29 2010, 5:06 PM
The November FNCL 4.0 ended the day -0-07 at 102-14. The intraday low was 102-13. The high was 102-24. I've got the production coupon marked at 3.637%...
Wed, Sep 29 2010, 4:23 PM
Mortgage rates touched record lows yesterday. Unfortunately mortgage rates rose from those record lows today. Mortgage rates didn't really "rise" tho...
Wed, Sep 29 2010, 1:10 PM
We had three Treasury auctions this week. All three issues were offered at record low yields, yet demand remained strong. Makes you feel like mortgage...
Tue, Sep 28 2010, 10:00 AM
Loan pricing was 10.2 bps better on average yesterday but rate sheet influential MBS prices were up about 0.375bps. Most lenders didn't reprice for th...
Tue, Sep 28 2010, 9:04 AM
JULY 20-METRO AREA HOME PRICES UNADJUSTED +0.6 PCT (CONSENSUS +0.4) VS +1.0 PCT IN JUNE - S&P/CASE-SHILLER. 20-METRO AREA HOME PRICES +3.2 PCT (CONSEN...
Tue, Sep 28 2010, 8:40 AM
Interest rates are flat and global equities are mixed ahead of home price data,a key consumer confidence survey, and a $35 billion 5-year Treasury not...
Tue, Sep 28 2010, 5:15 PM
It happened yesterday but I didn't make a big deal about it because I wanted to see how lenders would play it out today. Then it happened again toda...
Tue, Sep 28 2010, 1:28 PM
Plain and Simple: In the first two auctions of the week we've seen extremely high demand at record low yields. This tells you that the bid for risk a...
Mon, Sep 27 2010, 12:07 PM
Mortgage-backeds are off to a slow start to the week. Not much activity to report. Price levels are nonetheless moving higher thanks to a turn around ...
Mon, Sep 27 2010, 9:09 AM
Stocks completed their fourth consecutive week of rallies last Friday while interest rates continued to chop around an originator friendly range. The ...
Mon, Sep 27 2010, 5:00 PM
Our "float at the MBS price lows, lock at the MBS price highs" strategy has held up quite well this year. MBS prices rallied higher in our range today...
Mon, Sep 27 2010, 1:12 PM
This was a record low "high yield" for a 2-year note auction, yet investors were still more than willing to buy. Although the street took home the maj...
Fri, Sep 24 2010, 11:09 AM
The bad news is we're seeing benchmark yields tick higher today. The good news is loan pricing isn't too too terrible into these lower MBS levels. Reb...
Fri, Sep 24 2010, 8:23 AM
Benchmark interest rates are higher as U.S equity futures rally ahead of durable goods and housing data. In the afternoon, investors will also be reac...
Fri, Sep 24 2010, 5:15 PM
The best day to lock was Wednesday. Although rates rose heading into the weekend (for the third week in a row), consumer borrowing costs are lower tha...
Fri, Sep 24 2010, 1:08 PM
In the BIG PICTURE, disinflation turning into deflation is a more significant reason to believe the Fed would initiate another QE program. This rise ...
Thu, Sep 23 2010, 11:12 AM
I don't want you to think I am panicking about a sell off and consequential spike in mortgage rates though. Overall the environment remains supportive...
Thu, Sep 23 2010, 9:00 AM
After the data flashed the yield curve flattened another 4bps, 2s/10s are now at 207bps. The benchmark 10yr note yield has moved below 2.50% resistanc...
Thu, Sep 23 2010, 8:28 AM
Interest rates are holding near yesterday's lows as equity futures traded lower in the overnight session following news that Ireland’s GDP fell at an ...
Thu, Sep 23 2010, 6:14 PM
With both the FNCL 4.0 (103-00) and the 10yr TSY note (2.50%) trading near firm resistance levels, I continue to favor locking deals closing in the ne...
Thu, Sep 23 2010, 5:58 PM
After ending last week on a three day losing streak, loan pricing made a total turnaround in the first three days of this week, mostly thanks to the o...
Wed, Sep 22 2010, 11:48 AM
The 2s/10s yield is another 6bps flatter at 210bps wide, production MBS coupons are trading to shorter hedge ratios, and benchmark 10s have moved all ...
Wed, Sep 22 2010, 8:34 AM
Treasuries experienced a broad rally yesterday including the benchmark 10-year note shedding 13 basis points to 2.58% while 2-year yields created a fr...
Wed, Sep 22 2010, 3:53 PM
If you were floating your loan last week when rates started to rise, you probably kicked yourself for not locking. If you held out and continued floa...
