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MBS Commentary

Over a decade and counting! Mortgage News Daily has provided daily MBS market commentary to the mortgage industry since 2007.

NEW ALERT: Rates Release Stored Energy in Wrong Direction

Wed, Mar 24 2010, 8:54 AM

NEW Bad Gets Worse! Support NO LONGER In Tact For MBS, Just Barely In Tsy's

Wed, Mar 24 2010, 4:22 PM

NEW MBS and TSYs Find Support. Now Attempting Recovery Rally

Wed, Mar 24 2010, 2:43 PM

MBS have trounced treasuries all day, and especially into the sell-off. That "ledge-ish" sort of section around 100-18 corresponds with a major pivot...

NEW 5 Year Treasury Note Auction Results and Reaction. REPRICES IMMINENT

Wed, Mar 24 2010, 1:14 PM

REPRICES FOR THE WORSE ARE IMMINENT after a weak 5 year Treasury note auction.

NEW Pre-Auction Market Check-In. Still Sideways After Econ Data

Tue, Mar 23 2010, 12:59 PM

NEW Patiently Waiting for 10AM Data. Greece Acting Proud.Japan Faces Funding Shortage

Tue, Mar 23 2010, 8:38 AM

No need to go too deep into this outlook. Markets have been "coiling" energy, waiting for an influential event that provided direction and justified b...

NEW Late Day Selling Pushes MBS Back Down To Yesterday's Closing Price

Tue, Mar 23 2010, 7:25 PM

The moral of today's story is that MBS were wanting to stay under 101-02 yesterday and over it today. Whether prices open higher or lower tomorrow, w...

NEW Treasuries Falling. MBS Trying To Hold Ground After Fed President Comments

Tue, Mar 23 2010, 4:21 PM

FN 4.5's currently unchanged on the day at 101-02. (4 ticks off highs). Treasuries much worse off with 10yr down 7 ticks, pushing yield up to 3.69. C...

NEW 2 Year Note Auction Results and Reaction

Tue, Mar 23 2010, 2:33 PM

NEW Stocks and Bonds Sideways at Best Levels of Day in Quiet Marketplace. Reprices Possible

Mon, Mar 22 2010, 12:00 PM

Coiling represents "waiting for guidance" in the marketplace. This fits in well with the financial atmosphere today. There is a lack of meaningful dat...

NEW Empty Econ Calendar Leaves Rates at Mercy of Stock Lever and Debt Supply

Mon, Mar 22 2010, 8:59 AM

The econ calendar is essentially empty today, this allows bond traders to price in auction supply concessions to the yield curve whenever the stock le...

NEW Bond Market Seeks Guidance After Range Bound Session

Mon, Mar 22 2010, 6:02 PM

My goal is to convey just how boring today was. The term "range-bound and waiting for guidance" doesn't even begin to describe it. "Low volatility a...

NEW MBS Still at Best Levels. Recent Past Suggests Not Much Higher

Mon, Mar 22 2010, 3:26 PM

Current trading may follow a certain general framework, but it's all akin to a pre-game warm up as the real action won't begin until 1pm tomorrow--whe...

NEW Rates Recover as Dollar Rally Weakens Commodity Stocks

Fri, Mar 19 2010, 11:48 AM

Rates are staging a lackluster comeback as commodities stocks battle a strong dollar. Adding some weakness is a continued lack of liquidity in the mar...

NEW Rates Higher as Trading Session Gets Off to Slow Start

Fri, Mar 19 2010, 8:33 AM

Both benchmark 10s and rate sheet influential MBS coupons are opening the day weaker...in a very slow trading environment. 10s moved sideways overnigh...

NEW Lowest Prices Since 10am. Potential Reprices For The Worse

Fri, Mar 19 2010, 4:18 PM

NEW Bonds Retreat Into The Close. Any Risk Of Reprices?

Fri, Mar 19 2010, 3:01 PM

NEW Fannie Mae Clarifies Timing of Delinquency Buyouts. How Does this Affect Rates?

Fri, Mar 19 2010, 1:37 PM

NEW Rumors Keep Markets from Making Another Move. Rates Maintain Weakness. Reprices Possible

Thu, Mar 18 2010, 12:43 PM

NEW ALERT: Treasury Supply Announced. Benchmark Rates Rise. MBS Prices Fall Fast

Thu, Mar 18 2010, 11:00 AM

If you have been floating in hopes of an extended rates rally, now might be the time to ensure your loans are registered and ready to lock.

NEW Consumer Level Inflation Tame in February. Emergency Jobless Benefits Hit Record High

Thu, Mar 18 2010, 8:42 AM

Inflation data was dovish, supportive of exceptionally low Federal Reserve interest rate policy for an "extended period". Jobless claims were worse t...

NEW Winning Streak Snaps As MBS Close At The Lows

Thu, Mar 18 2010, 5:09 PM

NEW MBS Finding Support at 101-00

Thu, Mar 18 2010, 3:27 PM

NEW Current Coupon MBS Move Sideways at Resistance as Stocks Keep Rallying

Wed, Mar 17 2010, 12:48 PM

THE PHRASE PLAY THE RANGE UNTIL THE RANGE PLAYS YOU RESONATES LOUDLY IN MY HEAD AT THE MOMENT. 10 yr yields have fallen fast, all the way back to the ...

NEW Producer Level Inflation Muted in Feb. Gasoline Index a Drag on Prices

Wed, Mar 17 2010, 9:02 AM

Across all stages of production, falling energy prices in February accounted for the majority of deflation with gasoline being the biggest drag. The ...

NEW Looking At Longer Term Charts For Perspective

Wed, Mar 17 2010, 5:37 PM

NEW At The Highs Of The Day Heading Into Close

Wed, Mar 17 2010, 3:51 PM

NEW Addressing Analyst Concerns For "Material" MBS Corrections

Tue, Mar 16 2010, 11:16 AM

NEW Housing Starts Fall 5.9 pct. Building Permits Decline 1.6 pct. Rates Reverse Course

Tue, Mar 16 2010, 8:48 AM

NEW MBS And Treasuries Stay Strong Through Close

Tue, Mar 16 2010, 5:36 PM

NEW Reprices for the Better Reported as MBS Hit Intraday Price Highs

Tue, Mar 16 2010, 3:57 PM

Bottom line, arguments were a bit skewed in favor of floating yesterday, whereas they are more balanced today. However, this factors in some trending...

NEW FOMC STATEMENT: Fed's MBS Purchase Program on Course to End as Planned, But....

Tue, Mar 16 2010, 2:15 PM

The Fed's feelings on the labor market have improved since the last meeting while housing remains uncomfortably depressed. The MBS purchase program is...

NEW Foreign Demand for TSY Notes and Bonds Still Strong

Mon, Mar 15 2010, 11:07 AM

There just isnt enough participation in the rates marketplace to push the 10yr contract through the above discussed layer of "position resistance". B...

NEW MBS OPEN: Range Trade with a Chance of Chopatility

Mon, Mar 15 2010, 8:22 AM

Until 10s make a move, the FN 4.5 will likely hold to the recent range with 101-00 seen as a psychological profit taking point while 100-24 serves as ...

NEW MBS CLOSE: Flat Day Reiterates Focus On FOMC

Mon, Mar 15 2010, 5:33 PM

NEW MBS AFTERNOON: Coasting To Uneventful Conclusion

Mon, Mar 15 2010, 4:10 PM

NEW MBS LUNCH: Slow Day, But Favoring Bonds

Mon, Mar 15 2010, 2:35 PM

NEW Retail Sales Improve Across the Board. Rates Move Higher

Fri, Mar 12 2010, 9:20 AM

Retail Sales data has hit screens. It was much better than expected. Rates no likely.

NEW MBS OPEN: Rates at Crossroads. What Range Will Prevail?

Fri, Mar 12 2010, 7:40 AM

After four days of a limited data, which made it easy for traders to bake in a concessionary backup in TSY yields, the week's most important econ even...

NEW Harmony Of The Trends And The Whole Day Explained In One Chart

Fri, Mar 12 2010, 6:47 PM

NEW MBS LUNCH: Mortgages Left Behind as Benchmarks Rally

Fri, Mar 12 2010, 2:50 PM

NEW MBS MORNING: Supply Concessions Set Up. Targets Outlined

Thu, Mar 11 2010, 11:37 AM

Considering the extent to which concessionary 2s/30s steepening has taken place over the past week..it would make sense for the steepener to reverse c...

NEW MBS OPEN: Speculative Signs of Reversal in Benchmarks

Thu, Mar 11 2010, 8:52 AM

In a speculative manner, it appears rates traders are looking for an opportunity to push TSY prices higher (yields lower) as the long end of the yield...

NEW MBS CLOSE: On The Brink Of Something Epic?

Thu, Mar 11 2010, 5:24 PM

NEW MBS AFTERNOON: Volatility Fades As Bonds Cling To The Edge

Thu, Mar 11 2010, 3:37 PM

NEW MBS LUNCH: 30 Year Bond Auction Results and Reactions

Thu, Mar 11 2010, 1:09 PM

The previously discussed auction concession must have been sufficient because the long bond auction went very well. Overall, auction demand was well a...

NEW MBS MORNING: Losing Ground As Benchmarks Back Up

Wed, Mar 10 2010, 12:05 PM

NEW MBS OPEN: Rates Ticking Higher Just Because They Can

Wed, Mar 10 2010, 8:40 AM

While many rates watchers are seeking a fundamental explanation for the market's bias to push "rate sheet influential" benchmark yields higher, I do n...

NEW MBS CLOSE: What Can Today Tell Us About Tomorrow?

Wed, Mar 10 2010, 5:13 PM

This is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable quest...

NEW MBS AFTERNOON: Mortgages Playing Follow the Leader with Benchmarks

Wed, Mar 10 2010, 3:23 PM

For the time being, at least until we get closer to the Fed's exit from the agency MBS market, mortgage rates will take their directional guidance fro...