Latest Commentary
MBS CLOSE: Switching Focus To Next MBS Coupon, And Next Auction - MBS Commentary
February Coupons in Fannie and Freddie 30yr MBS (Class A), have gone the way of the old gray mare, as we now welcome our new pal for the next 30 days: March Coupons! The difference in price between the Feb and the March coupons was 14 ticks at closing time, making things look a lot worse than they were. Organically, the 4.5 was down only 2 ticks today... Read More
Short Term Direction of Mortgage Rates Dependent Upon Auctions and Stocks - Mortgage Rate Watch
Nothing has changed from Friday. Mortgage rates continue to run into a floor at 4.75%. This has held true all month! My lock bias is based on the big picture outlook. Barring a major shift in sentiment that drives benchmark Treasury yields lower, mortgage rates should move higher in months to come. While floating day to day can result in small reductions... Read More
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