Tue, Dec 8 2009, 9:00 AM
Rate sheet influential MBS coupons are starting out the session in FACEMELTING status. The FN 4.0 is +0-18 at 99-23 yielding 4.035% and the FN 4.5 is ...
Tue, Dec 8 2009, 5:33 PM
Taking things one day at a time, we'd have to point out that we're once again closing over 102-00... For any you're floating into tomorrow, pay close...
Tue, Dec 8 2009, 4:04 PM
Heading into 5pm "going out" marks, trading flows in the agency MBS market are few and far between. The FN 4.0 is+0-04 at 99-09 yielding 4.099%. The F...
Tue, Dec 8 2009, 2:02 PM
As benchmark TSY rates re-test higher yield levels, trading flows in the TBA MBS market have fizzled out. We went from every offer getting lifted to d...
Mon, Dec 7 2009, 11:32 AM
In an orderly sell off, traders test individual price levels to determine what the market is willing to accept/not accept. This "probing" combined wi...
Mon, Dec 7 2009, 8:35 AM
After moving outside the range in holiday trading conditions in the week before, rates backed-up in a hurry last week as traders took profits, unwound...
Mon, Dec 7 2009, 3:39 PM
Looks like consumers are leaning on their credit cards again....In October, consumers reduced outstanding debt by $3.5 billion, much less than the $9....
Mon, Dec 7 2009, 1:48 PM
Bottom line: everybody is fond of saying that lenders will take away faster than they give it back and it's very likely that Friday was no exception f...
Mon, Dec 7 2009, 1:02 PM
The four day streak of rising mortgage rates extended into Friday following a much better than expected Non-farm payroll report. After reaching 4.50% ...
Fri, Dec 4 2009, 12:57 PM
Today’s report is great news for our economy....unfortunately great news for the economy is better for stocks than bonds. Following the release at 830...
Fri, Dec 4 2009, 10:47 AM
Fri, Dec 4 2009, 8:29 AM
Rates are higher after the data....After coming to a rest directly in the middle of the range ahead of the data, the 10yr is now testing the upper lim...
Fri, Dec 4 2009, 3:29 PM
We are sticking with our strategy heading into year end. PLAY THE RANGE UNTIL THE RANGE PLAYS YOU.
Thu, Dec 3 2009, 12:03 PM
Tomorrow we get the most important economic report, the Employment Situation. If this data indicates fewer job losses than expected, mortgage rates ...
Thu, Dec 3 2009, 11:34 AM
Thu, Dec 3 2009, 8:32 AM
RATES ARE MOVING HIGHER IN A HURRY THIS MORNING. The 10yr TSY note is -0-19 at 99-30 yielding 3.384%...This is a function of the market finding it's w...
Thu, Dec 3 2009, 3:57 PM
The market found a comfort level, where it had last accepted price levels based on strategies and biases not not influenced by an outlier event...more...
Thu, Dec 3 2009, 2:10 PM
For the better part of the day MBS have been confined in a range between 101-25 and 101-28. Except for a brief foray to 101-29, this trend goes all t...
Wed, Dec 2 2009, 12:27 PM
Reports from fellow mortgage professionals indicate lender rate sheets are worse this morning. The par 30 year conventional rate mortgage has risen t...
Wed, Dec 2 2009, 11:33 AM
Wed, Dec 2 2009, 9:16 AM
We continue to remind of the importance of THE RANGE. The recent rise in rates adds further evidence that the market is more comfortable trading THE R...
Wed, Dec 2 2009, 3:59 PM
While last Friday's MBS valuation weakness extended all the way into the first half of today's trading session...buyers finally emerged this afternoon...
Tue, Dec 1 2009, 12:26 PM
Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage remains in the 4.50% to 4.75% range for well qualified ...
Tue, Dec 1 2009, 12:15 PM
The 10yr TSY note is now testing 3.26 and "rate sheet influential" prices just hit a new intraday low.We have already seen a few reprices for the wor...
Tue, Dec 1 2009, 11:18 AM
Tue, Dec 1 2009, 3:11 PM
Mortgages are finding it difficult to maintain support as th 10yr tests the all important 3.27% pivot point. The long end of the yield curve is taking...
Mon, Nov 30 2009, 12:52 PM
Early reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage is holding in the 4.50% to 4.75% range for well q...
Mon, Nov 30 2009, 11:46 AM
The FN 4.0 is -0-01 at 100-09 yielding 3.98% and the FN 4.5 is currently +0-00 at 102-16 yielding 4.198%. The secondary mortgage market current coupon...
Mon, Nov 30 2009, 8:40 AM
Mon, Nov 30 2009, 5:08 PM
Mon, Nov 30 2009, 2:32 PM
Fri, Nov 27 2009, 11:15 AM
The big news this morning comes out of Dubai, which announced they were not going to be able to honor their debt repayment schedule. They are asking ...
Fri, Nov 27 2009, 10:53 AM
Fri, Nov 27 2009, 8:59 AM
he bond market is benefiting from a flight to safety rally after Dubai's Supreme Fiscal Committee announced they would ask creditors of Dubai World, t...
Fri, Nov 27 2009, 3:38 PM
Lenders will find it more and more difficult to offload loan paper originated below 4.50%. The volatile duration of 4.0 MBS coupons adds an extra help...
Wed, Nov 25 2009, 10:39 AM
As has been very much the custom recently, Tsy's are having in "inside day" so far as ranges narrow into ready position before important data. If you...
Wed, Nov 25 2009, 10:04 AM
Wed, Nov 25 2009, 9:30 AM
The FN 4.0 is +0-04 at 99-31 and the FN 4.5 is +0-04 at 102-12. I dont have to do much with my spreadsheet to figure out the current coupon. The FN 4....
Wed, Nov 25 2009, 5:30 PM
Wed, Nov 25 2009, 3:37 PM
Last week the 10yr TSY note bounced around between 3.32% and 3.37%. Early on this week, that range was broken as 10yr note yields tested 3.42%. Howeve...
Wed, Nov 25 2009, 1:04 PM
The initial reaction to the auction results has been positive, "rate sheet influential" MBS prices are higher. We wouldn't be doing our job if we didn...
