February 2009 - Mortgage Rate Watch

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Friday 2/27… End of Week Recap

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by Victor Burek on February 27 2009, 9:24 PM

Today turned out to be another rather boring trading day for mortgage backed securities. We opened to the plus side but throughout the day we gave back all the gains and closed down just a couple ticks. There was a big turn around in treasuries which...
Friday 2/27… End of Week Recap

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by Victor Burek on February 27 2009, 6:41 PM

Today turned out to be another rather boring trading day for mortgage backed securities. We opened to the plus side but throughout the day we gave back all the gains and closed down just a couple ticks. There was a big turn around in treasuries which...
Friday 2/27…It’s Friday and Positive Open

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by Victor Burek on February 27 2009, 11:14 AM

Yesterday mortgage backed securities basically moved sideways and to sum up the day in one word, boring. Even though Treasuries sold off, mbs managed to basically stay unchanged the entire day. So far this morning, mbs are higher which should lead lenders...
Thursday 2/26…Mortgage Rates Moving Higher

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by Victor Burek on February 26 2009, 9:13 AM

Yesterday was a bad day. Mortgage backed securities lost ground and followed treasuries to higher yields. We should see lenders rate sheets worse today by about .375 to .50 in discount. So far this morning we are continuing the trend and are down slightly...
Wednesday 2/25…Post Obama Speech

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by Victor Burek on February 25 2009, 9:17 AM

Yesterday, mortgage backed securities gave back their gains of the prior day and closed down a few ticks which caused some lenders to reprice for the worse. So far this morning we are up on the day being helped out by a sell off in the Dow. The main cause...
Tuesday 2/24…Light Day of Data

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by Victor Burek on February 24 2009, 9:35 AM

Yesterday mortgage backed securities managed to close up a few points leading to a few lenders repricing for the better. So far this morning, mbs are basically even with close yesterday and early reports show lenders rates the same today as yesterday...
Monday 2/23…Economic Reports for the Week

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by Victor Burek on February 23 2009, 10:04 AM

So far this morning, mortgage backed securities are unchanged from where they closed on Friday. For new readers, mortgage rates are based on the buying and selling of mortgage backed securities or mbs by investors. As mbs move higher in price, the yield...
Friday 2/20…Year Over Year Inflation at Lowest Level Since 1955

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by Victor Burek on February 20 2009, 9:09 AM

Yesterday, mortgage backed securities took their direction from treasuries and sold off about .25 in discount. As mbs sell off and move lower in price, it causes interest rates to move higher. So far this morning we have regained all we lost yesterday...
Thursday 2/19…Every time We Start to Rally, Treasuries Pressure us Lower

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by Victor Burek on February 19 2009, 10:21 AM

Yesterday mortgage backed securities traded in a tight range and closed lower by about .125 in discount. When I say it closed down by .125 in discount what that means is a par interest rate yesterday will now cost .125 to secure. So far this morning,...
Wednesday 2/18… Housing Starts at Record Low

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by Victor Burek on February 18 2009, 9:27 AM

Yesterday, mortgage backed securities managed to have a mini rally and closed about .25 better in discount. This lead to many lenders repricing for the better, meaning lenders offered better mortgage rates later in the day when compared to the first rate...
Tuesday 2/17...Update as Promised

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by Victor Burek on February 17 2009, 4:33 PM

Mortgage backed securities managed to move slowly higher throughout the day. This has resulted in most lenders repricing for the better by about .20 discount. This means mortgage rates improved slightly on the day. Hopefully, this rally will continue...
Tuesday 2/17…Positive Open for MBS

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by Victor Burek on February 17 2009, 9:29 AM

Yesterday the markets where closed in observance of President’s Day. I hope everyone had a wonderful 3 day weekend. So far this morning, mortgage backed securities have opened higher. As mbs move higher in price, mortgage rates move lower in interest...
Monday 2/16…President’s Day, Markets Closed

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by Victor Burek on February 16 2009, 9:57 AM

All US markets are closed today in observance of President’s Day. This week brings us many economic reports that have the potential of moving the markets. It seems lately that economic reports and market reaction have been somewhat disconnected;...
Friday 2/13...Just a Quick Update

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by Victor Burek on February 13 2009, 1:02 PM

Mortgage backed securites took it on the chin today and have closed down about .25 worse in discount. I have already recieved a few reprices for the worse from some lenders. The main cause appears to be the sell off in treasuries which is increasing the...
Friday 2/13…It’s Friday the 13th!!!!

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by Victor Burek on February 13 2009, 11:33 AM

Yesterday, mortgage backed securities lost a little ground. Lenders rate sheets this morning are anywhere from .25 to .50 worse in discount. This will keep par interest rates from 4.625 to 5%. It appears that the main cause of the loss yesterday was a...

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