Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
121,068
# of Subscribers
 

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.
Bond Markets Weaker After Strong Pending Home Sales Data
Posted to: Micro News
Monday, April 28, 2014 10:15 AM

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

While the range so far today is still too narrow for widespread reprice risk, some lenders who were already out with rate sheets could be considering it. MBS are now in negative territory after Pending Home Sales came in much stronger than expected. 

  • March Pending Home Sales 97.4 vs 95.3 forecast
  • February revised to 94.2 from 93.9
  • year-over-year -7.9 percent

This report typically isn't much of a market mover, but as we discussed in The Week Ahead, "it does generally do a good job of framing the approach to next month's Existing Home Sales. Because of the ongoing stagnation there as well as the stagnant forecast for today's data, any meaningful 'beat' (actual result coming in higher than forecast) could put bond markets on the back foot out of the gate."

That's exactly what we have so far, considering the action up until 10am was arguably sideways and that this is arguably the first 'real' move of the day.  10yr yields are up 3.4bps to 2.70 and Fannie 4.0s are now down 3 ticks on the day to 104-14.




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 3.92%
  • |
  • 15 Yr FRM 3.12%
  • |
  • Jumbo 30 Year Fixed 3.76%
MBS Prices:
  • 30YR FNMA 4.5 108-20 (-0-01)
  • |
  • 30YR FNMA 5.0 110-29 (0-00)
  • |
  • 30YR FNMA 5.5 111-27 (-0-03)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%