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MBS MID-DAY: Pulling Back from Strongest Levels, Still in Positive Territory
Posted to: MBS Commentary
Monday, May 19, 2014 11:49 AM

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Both Treasuries and MBS hit the 8am mark right in line with Friday's latest levels.  As the domestic bond market session officially got underway with the 8:20am pit open, buyers were in control (i.e. prices up, yields down). 

Without any economic data or significant headlines to trade, guidance comes from technical levels and simply from traders watching and reacting to incoming trades.  To that end, 2.525 in 10yr yields served as a ceiling both on Friday afternoon and first thing this morning.

10yr yields moved down to 2.50 in fairly short order.  Fannie 3.5s followed the positivity with their own move up to 102-15 from 102-10 at the start.  Gains ultimately extended to 102-17 heading into the 11am hour and are back to 102-13 now--still 4 ticks (.125) up on the day.  10yr yields dipped as low as 2.495 and are back up to 2.511 currently--still 0.007% lower on the day.


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
98-13 : +0-04
FNMA 3.5
102-13 : +0-04
FNMA 4.0
105-13 : +0-04
Treasuries
2 YR
0.3427 : -0.0203
10 YR
2.5106 : -0.0074
30 YR
3.3517 : +0.0047
Pricing as of 5/19/14 11:49AMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
11:05AM  :  MBS and Treasuries extend gains despite stock market strength
9:30AM  :  Bond Markets Unchanged Overnight, Slightly Improved into Domestic Session

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Sung Kim  :  "can anyone give me some color on income based repayment plans for student loans"
Sung Kim  :  "more specifically, i have a conventional loan and the student loans come off deferral this month, the credit report has a high payment, and borrower has documentation showing a lower payment, but i am assuming it says income based repayment plan - does it matter?"
Brent Borcherding  :  "I just dealt with this, SK> IBR that credit report and current payment were [forwardfullbody] scheduled for renewal in November. Did a credit supp before submission and the creditor confirmed, verbally, what the new max payment that would start in November."
andrew russell  :  "anyone else's Encompass not working? :)"
Benjamin Biscoe  :  "http://mndne.ws/1dL6sFv"
Benjamin Biscoe  :  "think it only effects people that use SQL databases"




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Mortgage Rates:
  • 30 Yr FRM 4.16%
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  • 15 Yr FRM 3.29%
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  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (-0-02)
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  • 30YR FNMA 5.0 110-09 (-0-01)
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  • 30YR FNMA 5.5 111-04 (-0-02)
Recent Housing Data:
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  • Refinance Index 4.14%
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  • FHFA Home Price Index 0.67%