Wed, Oct 21 2009, 4:09 PM
The FN 4.0 is trading -0-04 at 98-08 yielding 4.181% while the FN 4.5 is +0-00 at 100-29 yielding 4.391%. The secondary market current coupon is 4.328...
Wed, Oct 21 2009, 1:55 PM
Having the same lunch time and again may start to get boring, but at least it reassures us about the intraday weakness in MBS. The secondary market Cu...
Tue, Oct 20 2009, 11:05 AM
Tue, Oct 20 2009, 10:56 AM
Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the ...
Tue, Oct 20 2009, 8:46 AM
830am data was bond friendly. The 10yr Treasury yield is down to 3.33% from 3.39%. The FN 4.0 is +0-12 at 98-16. The FN 4.5 is +0-08 at 101-02. There ...
Tue, Oct 20 2009, 4:39 PM
Tue, Oct 20 2009, 4:12 PM
This is just an example of how MBS prices compare to returns of their benchmarks. Terms used often to describe relative value: yield spreads are wider...
Tue, Oct 20 2009, 2:09 PM
As MG pointed out in MBS MORNING, rate sheet influential MBS coupons are being outperformed by benchmark big brothers today. The FN 4.5 is currently +...
Mon, Oct 19 2009, 12:41 PM
Last week consumers who were floating loans watched mortgage rates rise almost 0.25%. After touching five month lows in the previous week, better tha...
Mon, Oct 19 2009, 11:00 AM
This morning the Federal Reserve formally addressed whispers regarding their intentions to conduct reverse repos in the open market. A "repo" is short...
Mon, Oct 19 2009, 8:39 AM
Scheduled data doesn't show up until tomorrow, so the focus this AM is on Ben and beyond that, speculation and headline responses. So far this AM, MB...
Mon, Oct 19 2009, 5:20 PM
After some morning volatility and a fairly directional rally in stocks, MBS and Tsy's settled into a range and Stocks seemed to hit the wall at 1100 o...
Mon, Oct 19 2009, 3:41 PM
Heading into the 5pm "BONDS PERFORMED WELL DESPITE RALLYING STOCKS" marking period the FN 4.0 is +0-04 at 98-09 yielding 4.1775% and the FN 4.5 is tr...
Mon, Oct 19 2009, 1:35 PM
After a noticeable spike in bond prices following the reverse repo press release this AM, both MBS and TSY's have settled back into an uneventful rang...
Fri, Oct 16 2009, 11:06 AM
The FN 4.0 is currently +0-02 at 97-26 yielding 4.225% while the FN 4.5 is trading +0-02 at 100-17 yielding 4.438%. The secondary market current coupo...
Fri, Oct 16 2009, 8:20 AM
There is no reason to believe the Fed will raise rates anytime soon thus yields in the short end of the curve will remain in record low territory...th...
Fri, Oct 16 2009, 5:01 PM
Fri, Oct 16 2009, 3:51 PM
Heading into the 5pm "HOLY COW THE DOW HIT 10,000" marking period (please note sarcasm), the FN 4.0 is +0-10 at 98-02 yielding 4.199% and the FN 4.5 i...
Fri, Oct 16 2009, 2:07 PM
Mortgage rates moved slightly higher yesterday but managed to weather the storm of better than expected economic data and earnings reports. Today, mo...
Fri, Oct 16 2009, 1:30 PM
Thu, Oct 15 2009, 10:46 AM
The FN 4.0 is trading -0-12 at 97-25 yielding 4.228 while the FN 4.5 is -0-09 at 100-19 yielding 4.429%.The secondary market current coupon is 4.349% ...
Thu, Oct 15 2009, 8:32 AM
MBS and Tsy's are understandably worse given the above raft of data that is generally economically bullish. The exception obviously would be in the in...
Thu, Oct 15 2009, 7:34 PM
Before you get too excited at the sight of 3.50% across the headlines of a mortgage website , you should know that Treasuries are the topic of our foc...
Thu, Oct 15 2009, 4:15 PM
Lots of reason to believe the 10yr will be testing 3.50% tomorrow. All week the 10yr yield has has pushed higher and higher in the range. What's going...
Thu, Oct 15 2009, 1:34 PM
The FN 4.0 is currently -0-11 at 97-26 yielding 4.2248% and the FN 4.5 is trading -0-11 at 100-17 yielding 4.4376%. The secondary market current coupo...
Thu, Oct 15 2009, 1:29 PM
The theme in the secondary mortgage market this week has been volatility. Prices of mortgage backed securities have moved around a wide range as trade...
Wed, Oct 14 2009, 11:40 AM
The FN 4.0 is trading -0-10 at 98-12 yielding 4.1681% and the FN 4.5 is -0-07 at 100-30 yielding 4.387%. The secondary market current coupon is 4.299%...
Wed, Oct 14 2009, 8:30 AM
September Retail Sales Data was just released...it was better than expected. The bond market, which was already weaker after JP Morgan earnings beat e...
Wed, Oct 14 2009, 6:20 PM
The FN 4.0 closed -0-17 at 98-04+ yielding 4.19% and the FN 4.5 closed -0-09+ at 100-28 yielding 4.397%. The secondary market current coupon is 4.313%...
Wed, Oct 14 2009, 2:31 PM
Plain and Simple: FOMC members have mixed outlooks on the residential real estate market and the proper exit from the Agency MBS Purchase Program. The...
Wed, Oct 14 2009, 1:42 PM
Reports from fellow mortgage professionals indicate that mortgage rates have moved higher into the 4.875% to 5.125% range for well qualified consumers...
Tue, Oct 13 2009, 11:42 AM
Positive progress has been made all morning in the rates market, however as traders start to search for the lunch cart...stocks are heading higher and...
Tue, Oct 13 2009, 10:52 AM
The bond market was closed yesterday in observance of Columbus Day so mortgage backed securities did not trade. Regardless of that, several lenders is...
Tue, Oct 13 2009, 8:22 AM
The November FN 4.0 is trading +0-10 at 98-24 yielding 4.1307%. The November FN 4.5 is trading +0-09 at 101-06 yielding 4.3560%. The secondary market ...
Tue, Oct 13 2009, 5:16 PM
Over the summer we coined a new term based on the bouncy price action occurring in financial markets: CHOPATILITY. The lack of meaningful market direc...
Tue, Oct 13 2009, 4:13 PM
Heading into the 5pm "RATE SHEETS ARE UNCHANGED" marking period, rate sheet influential MBS coupons have given back a portion of their early afternoon...
Tue, Oct 13 2009, 2:54 PM
Rates rallied out the gate this morning. However, later in the day stocks began to recover losses and benchmark TSY and "rate sheet influential" MBS c...
Mon, Oct 12 2009, 12:19 PM
The bond market is closed in observance of Columbus Day. While mortgage-backed securities are not being traded today, several lenders have published r...
Fri, Oct 9 2009, 12:00 PM
Following a somewhat disappointing 30 year bond auction yesterday, prices of mortgage backed securities plummeted and mortgage rates moved higher as l...
Fri, Oct 9 2009, 10:14 AM
The FN 4.5 just made a new intraday low as the 10yr ticked over 3.32. The rate sheets we have seen were already noticeably worse than yesterday, howev...
Fri, Oct 9 2009, 8:38 AM
# After open weaker, MBS and tsy's are slightly improved AM
# Should clarify for tsy's "improved" only vs. overnight and early AM session. unchanged...
Fri, Oct 9 2009, 4:47 PM
AHHHH....the FN 4.5 fell off the map at the end of the day!!!!HAHA...this joke never gets old. DONT PANIC. TODAY IS NOTIFICATION DAY (dont panic about...
Fri, Oct 9 2009, 1:12 PM
The aftermath of yesterday's duration shedding which has carried over into today: LOTS OF REPRICES FOR THE WORSE AND HIGHER MORTGAGE RATES. The FN 4.0...
Thu, Oct 8 2009, 11:18 AM
Despite better than expected jobless claims data, proof that business inventories are still contracting, improving retail sales, a weaker dollar, anot...
Thu, Oct 8 2009, 11:06 AM
A steady rally in benchmark Treasury yields yesterday helped prices of mortgage backed securities move to five month highs which allowed lenders to ke...
Thu, Oct 8 2009, 8:33 AM
The 10yr TSY yield initially spiked higher after jobless claims data...however selling slowed as yields bounced at 3.21%.Rate sheet influential MBS co...
Thu, Oct 8 2009, 6:54 PM
After the dust settled today, the 30yr bond was down over a point today whereas 4.5 MBS had only lost 3 ticks... There was plenty of sturm and drang ...
Thu, Oct 8 2009, 4:11 PM
The FN 4.0 is currently -0-05 at 99-18 yielding 4.050%. The FN 4.5 is currently -0-02 at 101-27 yielding 4.275%. The secondary market current coupon i...
Thu, Oct 8 2009, 1:23 PM
As markets are given some more time to digest and show their hand, the bond bears are doing battle with trade flow considerations we discussed in MBS ...
Thu, Oct 8 2009, 1:01 PM
30 year bond auction results...
* $12 BLN 29-YEAR 10-MONTH BONDS AT HIGH YIELD 4.009 PCT, AWARDS 27.53 PCT OF BIDS AT HIGH
* BID-TO-COVER ...
