Mon, Feb 1 2010, 1:33 PM
With the Employment Situation report due out later this week and mortgage rates holding at the best levels of the year, I continue to advise locking. ...
Fri, Jan 29 2010, 11:19 AM
Fri, Jan 29 2010, 8:38 AM
LESS CONTRACTION IN BUSINESS INVENTORIES ACCOUNTED FOR 59% OF GDP GAINS! This will not carry over into Q1 2010. While markets had a muted reaction to ...
Fri, Jan 29 2010, 5:22 PM
Following the release of much better than expected 4th Quarter GDP, mortgage-backed security prices fell. This forced lenders to move mortgage rates s...
Fri, Jan 29 2010, 5:18 PM
Fri, Jan 29 2010, 1:06 PM
Today's rates rally started as one of those "sell the rumor, buy the news" aka FADE THE DATA moves. The bond market knew GDP would be strong, so they ...
Thu, Jan 28 2010, 11:51 AM
Rates are not benefiting from the stock lever because of three reasons. Auction concession + unwind of FOMC flatteners + Bernanke uncertainty. My outl...
Thu, Jan 28 2010, 8:41 AM
All was good in the rates market leading up to 215pm yesterday. Rate sheet rebate was holding close to month over month bests, 10s were quietly boun...
Thu, Jan 28 2010, 5:20 PM
Thu, Jan 28 2010, 4:31 PM
I have been advising LOCK all week. If you locked, way to go! Good timing. If you did not lock, we have some deep thinking to do. I think the easiest...
Thu, Jan 28 2010, 3:47 PM
Thu, Jan 28 2010, 1:03 PM
The Treasury has successfully auctioned $32 billion 7-year notes. Auction demand was strong, but the rates market has failed to make positive progress...
Wed, Jan 27 2010, 11:33 AM
Wed, Jan 27 2010, 9:23 AM
The day ahead promises to be busy. At 10am we get New Home Sales, then at 1pm the Treasury will release auction results on a $42 billion 5year note of...
Wed, Jan 27 2010, 5:33 PM
MORTGAGE RATES MOVED HIGHER AFTER THE FOMC RELEASE. Reports from fellow mortgage professionals now indicate lender rate sheets to be worse than yester...
Wed, Jan 27 2010, 5:19 PM
Wed, Jan 27 2010, 4:00 PM
Mortgages are heading into the close near their worst price levels of the day. The FN 4.0 is -0-08 at 97-21 yielding 4.224% and the FN 4.5 is -0-06 a...
Wed, Jan 27 2010, 2:20 PM
REPRICES FOR THE WORSE ARE LIKELY....REPRICES FOR THE WORSE ARE LIKELY....REPRICES FOR THE WORSE ARE LIKELY
Wed, Jan 27 2010, 1:05 PM
As of right this very moment, there has been no negative response to the recently released auction results. This places the brunt of the potential vo...
Tue, Jan 26 2010, 12:54 PM
Reports from fellow mortgage professionals indicate lenders have passed along better rates this morning. The par 30 year conventional rate mortgage h...
Tue, Jan 26 2010, 11:38 AM
he Treasury will announce auction results on $44 billion 2s at 1pm. I am not going to dive deep into analysis on this one, I think the outlook is fair...
Tue, Jan 26 2010, 8:31 AM
If you are still floating your pipeline I recommend you keep a close watch on the marketplace over the next few days. We see the recent "relief rally"...
Tue, Jan 26 2010, 5:01 PM
Earlier in the afternoon, we mentioned the sudden onset of selling in the stock market in conjunction with the high level of connection in the stock l...
Tue, Jan 26 2010, 3:30 PM
Tue, Jan 26 2010, 1:32 PM
Following the average auction (average at best), interest rates moved higher. However shortly thereafter status quo was restored as short covering slo...
Mon, Jan 25 2010, 12:00 PM
Mon, Jan 25 2010, 8:32 AM
Phew...lots to consider this week. One thing I forgot to mention is the technical side of the marketplace. "Rate sheet influential" TSYs have been per...
Mon, Jan 25 2010, 4:59 PM
Mon, Jan 25 2010, 3:52 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be worse than Friday. The par 30 year conventional rate mortgage has risen...
Mon, Jan 25 2010, 2:23 PM
As expected markets are thinly traded ahead of the looming FOMC meeting. The 3.375% coupon bearing 10 year Treasury note has bounced back and forth ar...
Fri, Jan 22 2010, 11:04 AM
Since the econ calendar is empty and politics seem to be driving price action, we might as well discuss Ben Bernanke's pending re-nomination confirmat...
Fri, Jan 22 2010, 8:15 AM
While yesterday's flight to safety was supportive of an extension to the rates "relief rally", the underlying motivation behind boosted bond market op...
Fri, Jan 22 2010, 5:06 PM
Fri, Jan 22 2010, 3:44 PM
With lenders still offering the best rates we've seen in over a month and further progress unknown in the rates market, I still think most should be l...
Fri, Jan 22 2010, 2:41 PM
Heading into the afternoon hours the rates market continues to trade in a choppy manner. While much distance has been traveled on charts, status quo h...
Thu, Jan 21 2010, 10:55 AM
Bonds didn't even get a chance to price in that auction concession, the stock lever gave us a boost BEFORE the Treasury announced next week's auction...
Thu, Jan 21 2010, 8:50 AM
I am starting to feel a bit more anxious about the relief rally retracement...meaning our "day to day" lock float guidance is looking more toward a lo...
Thu, Jan 21 2010, 6:03 PM
Thu, Jan 21 2010, 4:20 PM
With lenders still offering the best rates we've seen in over a month and further progress unknown in the rates market, I think most should consider l...
Thu, Jan 21 2010, 3:53 PM
Thu, Jan 21 2010, 1:26 PM
"Rate sheet influential" MBS prices are higher and mortgage rates are improved. While the spike in TSY trading volume is supportive of an extension to...
Wed, Jan 20 2010, 12:22 PM
Wed, Jan 20 2010, 9:04 AM
f you look at the chart this AM, you'll notice we get ALL the gains you see BEFORE 830AM data. In other words, 830 marked the best levels in the bond...
Wed, Jan 20 2010, 5:46 PM
Although the bond market relief rally is strong on charts and backed by fundamentals (in our opinion)...its still a trader's world, and we're still li...
Wed, Jan 20 2010, 3:57 PM
Reports from fellow mortgage professionals indicate improved rate sheets this morning. The par 30 year conventional rate mortgage has dipped to the 4...
Wed, Jan 20 2010, 3:15 PM
Tue, Jan 19 2010, 12:57 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be unchanged this morning. The par 30 year conventional rate mortgage remai...
Tue, Jan 19 2010, 11:33 AM
The 3.375% coupon bearing 10 year TSY note is trading -0-05 at 97-11. Selling stopped out shy of 3.74% thanks to a round of short covering. Don't expe...
Tue, Jan 19 2010, 8:53 AM
After taking down $84 billion in TSY debt supply last week, the bond market headed into the three day weekend trading outside the range at yields not ...
