Fri, Dec 18 2009, 8:58 AM
Treasuries gave back some gains overnight. Several explanations could be offered but I think the most relevant observation continues to be "selling in...
Fri, Dec 18 2009, 5:39 PM
Fri, Dec 18 2009, 5:06 PM
After making a modest recovery following the release of the FOMC statement on Wednesday, mortgage rates are ending the week on a negative note. Rates ...
Fri, Dec 18 2009, 2:41 PM
Thu, Dec 17 2009, 11:29 AM
It got a little choppy after the Philly Fed Index release was much better than expected, I actually almost issued an alert because I noticed activity ...
Thu, Dec 17 2009, 9:11 AM
Yields are lower this morning following a worse than expected read on the labor market. This is most likely a function of SHORT COVERING after the dat...
Thu, Dec 17 2009, 5:32 PM
Thu, Dec 17 2009, 4:08 PM
Both benchmark Treasuries and "rate sheet influential" MBS coupons fared well today, albeit in light volume but that is neither here nor there if you ...
Thu, Dec 17 2009, 2:04 PM
Thu, Dec 17 2009, 1:58 PM
I advised yesterday that if you are a risk taker that floating could pay off, well it did. At the open we saw better rate sheets and as the day has p...
Wed, Dec 16 2009, 12:37 PM
While it is widely accepted that the Fed will keep the current Fed Funds rate at 0 to .25%, many market participants are hoping for minor changes to t...
Wed, Dec 16 2009, 10:37 AM
I have been referring to "Real Money Buyers" on a consistent basis lately.
Heading into year end these "real money accounts" have been the most act...
Wed, Dec 16 2009, 8:31 AM
Consumer level inflation was "on the screws" while Building Permits were better than expected. 10s havent made much progress in either direction after...
Wed, Dec 16 2009, 5:10 PM
Wed, Dec 16 2009, 3:30 PM
Wed, Dec 16 2009, 2:24 PM
The FOMC's most meaningful tweak has been an upgrade to the labor market - "economic activity has continued to pick up and that the deterioration in t...
Wed, Dec 16 2009, 1:16 PM
I do believe a Fed Statement that highlights SUBSTANTIAL RESOURCE SLACK and STILL WEAK INFLATIONARY PRESSURES will be beneficial to the bond market......
Tue, Dec 15 2009, 11:04 AM
10s have made a move to the 3.62% pivot point, if you recall both 3.57% and 3.62% were out targets following the Labor report bond market selloff. Tha...
Tue, Dec 15 2009, 8:33 AM
Tue, Dec 15 2009, 5:50 PM
Lawmakers aiming to speed development of U.S. covered bonds on Tuesday positioned the securities as an alternative or supplement to mortgage funding p...
Tue, Dec 15 2009, 5:34 PM
"No one knows what tomorrow's FOMC statement will contain, and no one knows how friendly or unfriendly to any given market it would need to be to gaug...
Tue, Dec 15 2009, 4:01 PM
Tue, Dec 15 2009, 2:32 PM
Two better than expected economic headlines did not have a positive influence over the bond market. Following the release of PPI data, Treasury yields...
Tue, Dec 15 2009, 1:46 PM
Mon, Dec 14 2009, 12:03 PM
This is a normal occurrence ahead of FOMC meetings, especially in December when the majority of market professionals have their "window dressing" fund...
Mon, Dec 14 2009, 11:30 AM
Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage remains in the 4.75% to 5.00% range for well qualified ...
Mon, Dec 14 2009, 8:09 AM
All in all, you will notice a somewhat bearish outlook for mortgage rates is embedded in the above commentary...ie a steeper yield curve and inflation...
Mon, Dec 14 2009, 5:18 PM
Mon, Dec 14 2009, 4:07 PM
Mon, Dec 14 2009, 1:39 PM
Fri, Dec 11 2009, 11:25 AM
Fri, Dec 11 2009, 8:27 AM
After a slow week of economic data, market participants were treated to a better than expected read on November Retail Sales this morning.Led by a 6.0...
Fri, Dec 11 2009, 6:29 PM
Mortgage rates moved higher today as MBS prices fell following two better than expected economic reports. The move lower in MBS prices forced lenders ...
Fri, Dec 11 2009, 5:04 PM
In exactly two weeks of trading, MBS have moved from all time highs on November 30th to 101-08 at close today, the same levels from the beginning of N...
Fri, Dec 11 2009, 3:27 PM
Fri, Dec 11 2009, 1:33 PM
Thu, Dec 10 2009, 11:59 AM
The Treasury will announce the auction results of the $13 billion long bond reopening at 1pm. Yesterday's weak 10yr auction implies one of two things ...
Thu, Dec 10 2009, 8:31 AM
After moving higher overnight, mostly at the start of the London trading session, "rate sheet influential" benchmark rates ticked up a few bps and the...
Thu, Dec 10 2009, 5:00 PM
Thu, Dec 10 2009, 3:14 PM
To lock or float, that is the question.
In previous months, Treasury yields and mortgage rates have risen prior to bond auctions, however following...
Thu, Dec 10 2009, 2:48 PM
Thu, Dec 10 2009, 1:04 PM
JUST LIKE YESTERDAY, THIS AUCTION WAS NOT MET WITH STRONG DEMAND.....something many were expecting, thus rates have barely budged.
Wed, Dec 9 2009, 12:41 PM
"Rate sheet influential" MBS prices plummeted after the auction results. "Rate sheet influential" MBS prices plummeted after the auction results.
Wed, Dec 9 2009, 12:06 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be slightly worse than yesterday. While rate sheet rebate is weaker today, t...
Wed, Dec 9 2009, 11:03 AM
As we've seen so often, markets tend to trade along pre-existing ranges toward some sort of inflection point. An oversimplified way to think about th...
Wed, Dec 9 2009, 8:39 AM
101-30 provided support yesterday, something we expect to continue unless the 10yr trades above 3.42%...or.....if the lack of MBS liquidity that set i...
Tue, Dec 8 2009, 11:07 AM
Short-term and long-term charts are telling two decidedly different stories today. If one were to look only at the short-term chart, we would indeed ...
Tue, Dec 8 2009, 10:39 AM
Reports from fellow mortgage professionals indicate improved mortgage rates this morning. The par 30 year conventional mortgage rate has fallen overn...
