Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
2,000,000
# of Visitors Per Month
 

Send Article via Email

REGISTERED USERS (Free!):
Can forward to 6 email addresses at a time. Register or Login

Registered users also get the additional advantage of Co-branded Emails and Landing Pages. Learn more about these features.

Your Name: 
Your Email: 
I want to forward this to
(Enter Email Address Below) :
Include a Personal Message (optional)

Please add 1 and 8 and type the answer here:
Leave this field blank.
Email Preview Below:
This feature is now 100% free. Learn More About Co-branded Email and our other Co-branded Services.
 
This email was sent to you by:
Harry Chriest |
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.
Positive Reprice Potential Vs. Conservative Friday Stances
Posted to: Micro News
Friday, January 18, 2013 12:30 PM

Forward this email:  Send a copy of this story to someone you know that may want to read it.

As we often discuss, lenders tend to be a bit more hesitant to offer positive reprices on Friday afternoon gains, especially before 3-day weekends, especially when the gains are only 3-5 ticks. All these things and more today as Fannie 3.0s edge up 4 ticks from opening levels (9 ticks day-over-day) into the noon hour.

10yr yields are down to 1.8381, just edging below yesterday's opening levels. Yesterday's nasty little sell-off is effectively undone, at least for now, and it currently stands as yet another instance of bond markets following stocks during earning's season (especially during domestic hours), but giving up less relative ground than the stock rally suggests.

Case in point, S&P futures at 1468 lined up with 10yr yields at 1.842 yesterday morning, but now 10yr yields are back below 1.84 despite S&Ps only having fallen to 1472 from 1480 highs yesterday. Lots of numbers just now, but the point is that stocks and bonds are following each other a fair bit minute-to-minute, but day over day, bond yields have been able to move lower vs stock prices. NOTE: this could be nothing more than money simply flowing back into both sides of the market as a new year of trading picks up, but the trend is net-positive just the same.

Back to business though... Reprices... Are they Possible? In a word, yes. It's just that they're less likely than they otherwise would be. The longer that current levels are maintained or improved upon, the more possible they'd become, but some lenders have probably already tuned any gains out for the day. Warning bells would be set for sell-offs, but otherwise, the 3-day weekend will start early for some.




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.

Forward this email:  Send a copy of this story to someone you know that may want to read it.

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.99%
  • |
  • 15 Yr FRM 3.16%
  • |
  • Jumbo 30 Year Fixed 3.91%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-04)
  • |
  • 30YR FNMA 5.0 110-22 (0-03)
  • |
  • 30YR FNMA 5.5 111-22 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%