Thu, Jul 15 2010, 6:42 PM
Rate sheet influential MBS got their keister kicked by Treasuries today but price levels rose enough to give lenders a chance to reprice for the bett...
Wed, Jul 14 2010, 8:26 AM
Stocks are once set to open higher after Intel beat estimates with sales jumping by more than a third in the second quarter. The computer chip produce...
Wed, Jul 14 2010, 1:33 PM
After the auction/Ahead of the FOMC minutes, traders are acting as if they expect to see bearish outlooks in the FOMC minutes.Stocks, which retested 1...
Tue, Jul 13 2010, 12:14 PM
Money is flowing out of bonds and into stocks ahead of the release of the 10-year Treasury note auction results.
Tue, Jul 13 2010, 8:31 AM
The stock market is set to open higher after Alcoa kicked off the second-quarter earnings season with better than expected results. One hour before th...
Mon, Jul 12 2010, 11:17 AM
Lenders who released pricing early this morning or desks that had extra juice built into rate sheets may reprice for the better. However, although st...
Mon, Jul 12 2010, 9:24 AM
The benchmark S&P 500 jumped more than 5.4% in last week’s holiday-shortened week. But the index remains about 3% off its 50-day moving average, accor...
Mon, Jul 12 2010, 5:48 PM
You won't notice a difference tomorrow. Lenders have been building loan pricing based on the August coupon for several weeks already, that's why I've ...
Mon, Jul 12 2010, 1:07 PM
Stocks are attempting to breakout of their recent range, benchmark interest rates are higher, the yield curve is steeper, and rate sheet influential M...
Fri, Jul 9 2010, 12:46 PM
The empty econ calendar, congressional vacation ,holiday shortened work week is coming to an end with little fanfare. Trading volumes are low and non-...
Fri, Jul 9 2010, 8:44 AM
The S&P 500 has gained 4.1%, or 42.2 points in the past two days. This morning stock futures are mixed. One hour before the opening bell, Dow futures...
Fri, Jul 9 2010, 4:50 PM
Risk On? Risk Off?
Although BIG PICTURE perspective has been the primary source of risk averse investing pessimism, the market is still dominated b...
Thu, Jul 8 2010, 9:45 AM
Stocks are apathetically maintaining recent positive progress. Regardless of a lack of investor participation and generally mixed reads on price actio...
Thu, Jul 8 2010, 8:09 AM
Equity futures are roughly flat this morning after a financial sector-led rally yesterday pushed the Dow up 274 points to beyond the 10,000 mark. Lit...
Thu, Jul 8 2010, 2:21 PM
Stocks are off week over week highs, the 10yr note is ticking back down toward 3.00%, and rate sheet influential MBS prices are approaching reprice fo...
Wed, Jul 7 2010, 11:43 AM
Typically, in weeks like this, the bond market and mortgage rates take their directional guidance from the general sentiment of the market. Stock mark...
Wed, Jul 7 2010, 8:28 AM
Equity futures and benchmark interest rates are both moderately lower this morning ahead of a light day with no significant data. Global stocks fell a...
Tue, Jul 6 2010, 12:53 PM
Most lenders took down pricing indications when MBS were bid 6-10 ticks lower than current levels. While some desks may reprice for the better, the F...
Tue, Jul 6 2010, 9:43 AM
I will say the same thing about this round of MBS sales rhetoric that I said about the Fed's first few attempts to breach the subject: selling MBS hol...
Tue, Jul 6 2010, 8:48 AM
Equity futures are on the rise this morning after stock markets changed tone from last week and rallied globally. The holiday-shortened week ahead is ...
Fri, Jul 2 2010, 10:38 AM
Mortgages are trading in light volume with minimal supply on screens. The range trade is obvious. The August delivery Fannie Mae 4.0 MBS coupon is -0-...
Fri, Jul 2 2010, 8:30 AM
Stock futures trade higher initially but are currently back to pre-NFP levels. The 10yr note has rallied 2.6bps lower to 3.929%. The August FNCL 4.0 i...
Fri, Jul 2 2010, 8:07 AM
The general media thought last month’s Nonfarm Payrolls / Employment Situation report was bad, but June’s report promises to be much worse. Thanks to ...
Fri, Jul 2 2010, 6:41 PM
"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in." Theodore Roosevelt
Thu, Jul 1 2010, 10:04 AM
A flurry of data just flashed...it was disappointing
Thu, Jul 1 2010, 8:06 AM
Equity futures are flat this morning ahead of key labor, manufacturing, and housing data. Ninety minutes before the opening bell, Dow futures are down...
Thu, Jul 1 2010, 6:35 PM
f you're floating you should be conscious of this observation, especially if you're writing a note rate close to par. These mortgage rates are the mos...
Wed, Jun 30 2010, 11:58 AM
Overall, these observations imply uncertainty is the only certainty in the marketplace. While this is to be expected ahead of a major economic event (...
Wed, Jun 30 2010, 8:06 AM
Equity futures are looking for a brighter open this morning after the European Central Bank said it would lend 171 banks a total of €131.9 billion for...
Wed, Jun 30 2010, 6:15 PM
This week, the Federal Reserve Bank of New York Open Market Trading Desk (the Desk) began conducting a limited amount of agency mortgage-backed securi...
Tue, Jun 29 2010, 11:39 AM
Upon inspection, it looks like loan pricing is more aggressive today than it was last Wednesday. Are my spreadsheets lying to me or is that an accurat...
Tue, Jun 29 2010, 9:02 AM
The April S&P/Case-Shiller Home Price Index has been released. Data was better than expected. Stock futures and interest rates really didn't react to...
Tue, Jun 29 2010, 8:17 AM
Equity futures are tracking global stocks sharply lower this morning as investors await key housing price data and results from a consumer confidence ...
Tue, Jun 29 2010, 6:43 PM
Lets review recent events. As euro crisis contagion exhausted itself in May, stocks began to rise from long-term support levels. Short covering led to...
Mon, Jun 28 2010, 8:28 AM
Equity futures are trading higher after G20 leaders pledged to cut government deficits and decided to drop a 2012 deadline for banks to adopt more str...
Mon, Jun 28 2010, 5:15 PM
The 10 year note is all set for a test of 3.00% and S&Ps are ready to see how strong 1070 support really is....if this trade plays out overnight into ...
Mon, Jun 28 2010, 1:19 PM
Did you notice how aggressively lenders were priced this morning? A few rate sheets were over 50 bps better on 4.625, 4.50, and 4.375% notes! While mo...
Fri, Jun 25 2010, 10:01 AM
Don't be surprised if secondary marketing is a little under the weather today. You will likely experience modest delays as lock desks are now sorting ...
Fri, Jun 25 2010, 8:12 AM
Equity futures are pointing higher this morning after the House and Senate agreed to a final version of what’s being called the the biggest regulatory...
Fri, Jun 25 2010, 4:39 PM
If we're really headed for a double dip, interest rates will surely move lower. I'm just not sure how much further mortgage rates can fall though...
Thu, Jun 24 2010, 12:09 PM
With MBS prices hitting new highs on a daily basis, lock desks and traders have able to get away with being under hedged. While this strategy works ou...
Thu, Jun 24 2010, 8:43 AM
4.0 MBS coupons traded yesterday. This means 4.25% mortgage rates were available on rate sheets. I heard of a market being made in 3.50s but that is p...
Thu, Jun 24 2010, 8:12 AM
Following a dizzying 33% drop in new home sales yesterday, plus a more dovish statement from the Federal Reserve, investors have become worried about ...
Thu, Jun 24 2010, 1:26 PM
The 7-year note auction went well...but benchmark yields are still on the rise. I would characterize the behavior of the 10yr note as "indecisive cons...
Wed, Jun 23 2010, 9:59 AM
Sales of new single-family houses in May 2010 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by t...
Wed, Jun 23 2010, 8:44 AM
Lenders are delaying the release of loan pricing until the market makes a directional move around 10am. If New Home Sales disappoint, stocks will turn...
Wed, Jun 23 2010, 2:30 PM
The FOMC Statement has been released. The subtle alterations made to the statement were skewed to the bearish side of the BIG PICTURE storyline. This...
Wed, Jun 23 2010, 1:00 PM
This was a brutal auction! Blame the flight to safety yesterday...this issue was too expensive! The August Fannie Mae 4.5 MBS coupon lost 4 ticks in p...
Tue, Jun 22 2010, 10:32 AM
10:00 22Jun10 RTRS-US MAY EXISTING HOME SALES 5.66 MLN UNIT ANNUAL RATE (CONS 6.12 MLN) VS APRIL 5.79 MLN (PRV 5.77)-NAR
10:00 22Jun10 RTRS-US MAY EX...
Tue, Jun 22 2010, 8:08 AM
The "Keep It Simple Stupid" theory seems to be the most fitting method of market watching these days. Investment horizons are short and while particip...
MBS Market Alerts
