This email was sent to you by:
Anonymous |
|
Mortgage News Daily
|
Message: YOUR MESSAGE HERE |
Email alerts, such as this one, are a
free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please
register to join our community.
Register with Mortgage News Daily - Registration is free and offers many benefits.
Manage your Email Alerts - Once you're registered, you can manage all MND email alerts on one page, turning subscriptions on or off with one click.
About MND:
Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.MBS MORNING: Reprices for the Worse Possible
I am in a really goofy mood this morning. Unfortunately this state of mind is making its way onto paper via sarcasm. Please see the Mortgage Apps story for more on that...
At 1am the Treasury announced the terms of month-end debt supply.
- $44,000,000,000 in 2s go off on MONDAY December 28
- $42,000,000,000 in 5s to be auctioned on TUESDAY December 29
- $32,000,000,000 in 7s will be auctioned on WEDNESDAY December 30
That totals $118bn ($95bn in new cash). Pretty much "as expected" in terms of auction amounts.
Oh...and by the way. "Rate sheet influential" MBS prices are FALLING FAST!
The FN 4.0 is now +0-06 at 97-04 yielding 4.273% and the FN 4.5 is +0-06 at 100-06 yielding 4.489%.
(My speeds are slower than the street's assumptions). The secondary
market current coupon is 4.485%. The CC yield is 76bps over the 10yr
TSY yield and 60bps over the 10yr swap rate.
[Image or graph removed from email. View full article with images]
REPRICES FOR THE WORSE ARE POSSIBLE...
I decided not to issue an alert on this one. My rate sheets would have been prepared for this because I wouldn't be watching the market too closely. So while some lenders may still re-issue rates, others wont care. READ MORE
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.
This email was sent to you by:
|
Mortgage News Daily
|
 |
Anonymous Anonymous |
|
Message:
YOUR MESSAGE HERE
MBS MORNING: Reprices for the Worse Possible
I am in a really goofy mood this morning. Unfortunately this state of mind is making its way onto paper via sarcasm. Please see the Mortgage Apps story for more on that...
At 1am the Treasury announced the terms of month-end debt supply.
- $44,000,000,000 in 2s go off on MONDAY December 28
- $42,000,000,000 in 5s to be auctioned on TUESDAY December 29
- $32,000,000,000 in 7s will be auctioned on WEDNESDAY December 30
That totals $118bn ($95bn in new cash). Pretty much "as expected" in terms of auction amounts.
Oh...and by the way. "Rate sheet influential" MBS prices are FALLING FAST!
The FN 4.0 is now +0-06 at 97-04 yielding 4.273% and the FN 4.5 is +0-06 at 100-06 yielding 4.489%.
(My speeds are slower than the street's assumptions). The secondary
market current coupon is 4.485%. The CC yield is 76bps over the 10yr
TSY yield and 60bps over the 10yr swap rate.
REPRICES FOR THE WORSE ARE POSSIBLE...
I decided not to issue an alert on this one. My rate sheets would have been prepared for this because I wouldn't be watching the market too closely. So while some lenders may still re-issue rates, others wont care. READ MORE
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.