Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
1,829
# of Questions Answered
 

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 7 and 5 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.
Legitimate Post NFP Rally Threat? Support Holding For Now
Posted to: Micro News
Friday, February 01, 2013 10:35 AM

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

Post ISM data, and possibly with a slight ear bent toward Bullard comments from around the same time, bond markets have given back some of the post-NFP rally. At the moment, this amounts to exactly HALF of today's gains in MBS, but we've been fighting off further weakness since 10:15am.

In terms of Fannie 3.0s, that puts the bounce in at 103-16 (super salient pivot point!) with current prices back up to 103-18. In terms of 10yr yields, the support has come in at 1.87 (SUPER salient pivot point!!!) with yields back down toe 1.96 now. The stock lever has been helpful.

Holding on the friendly side of these pivot points is very good, and if that's as weak as we get, it's a pretty acceptable and explainable amount of volatility in the context of a broader positive move following NFP. If we cross back over these pivots, however, things become a bit cloudier, and a bit less positive for the rest of the day. For now, it looks like the big volume and big support is already in place at the 1.97 pivot, and unless we cross back above, the takeaway from this morning continues to be positive.




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 3.96%
  • |
  • 15 Yr FRM 3.16%
  • |
  • Jumbo 30 Year Fixed 3.81%
MBS Prices:
  • 30YR FNMA 4.5 108-20 (0-03)
  • |
  • 30YR FNMA 5.0 110-27 (0-01)
  • |
  • 30YR FNMA 5.5 111-27 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%