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You are viewing Micro News from Thursday, Mar 1, 2012 - View all recent Micro News
  • 3/1/12
    Fannie 3.5's are at their best levels of the day, down...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 3/1/12
    excerpt from the most recent MBS Commentary post: MBS...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS
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  • 3/1/12
    ECON: Construction Spending Falls For First Time Since July

    - CONSTRUCTION SPENDING -0.1 PCT (CONSENSUS +1.0 PCT)
    - FIRST DECLINE SINCE JULY
    - PRIVATE CONSTRUCTION SPENDING UNCHANGED
    - PUBLIC SPENDING -0.2 PCT

    The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent (±1.1%)* below the revised December estimate of $827.6 billion. The January figure is 7.1 percent (±1.8%) above the January 2011 estimate of $772.0 billion.

    Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as (±1.1%)* the revised December estimate of $538.7 billion. Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8 percent (±1.3%) above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5 percent (±1.1%) below the revised December estimate of $289.5 billion.

    In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2 percent (±1.8%)* below the revised December estimate of $289.0 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9 percent (±3.4%)* below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2 percent (±3.8%)* below the revised December estimate of $83.9 billion.
    Category: MBS, ECON
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  • 3/1/12
    MERS’ Role Upheld by Nevada Supreme Court
    MERSCORP Holdings, Inc. today announced that the Nevada Supreme Court affirmed two separate district court rulings that rejected challenges to the validity of Mortgage Electronic Registration Systems, Inc.’s (MERS) role in assigning interests in deeds of trust.

    “The Nevada Supreme Court has made it unquestionably clear that the MERS business model complies with Nevada law,” said MERSCORP Holdings Vice President of Corporate Communications, Janis L. Smith. “These rulings – as in all other states – reject claims challenging our legitimate role in U.S. housing.”
    Category: INDUSTRY
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  • 3/1/12
    ECON: ISM Manufacturing Misses Consensus, But Continues to Rise

    - ISM MANUFACTURING 52.4 (CONSENSUS 54.5) VS 54.1 IN JAN
    - NEW ORDERS INDEX 54.9 IN FEBRUARY VS 57.6 IN JAN
    - EMPLOYMENT INDEX 53.2 IN FEBRUARY VS 54.3 IN JAN
    - PRICES PAID INDEX 61.5 IN FEBRUARY (CONSENSUS 58.0) VS 55.5 IN JANUARY

    Economic activity in the manufacturing sector expanded in February for the 31st consecutive month, and the overall economy grew for the 33rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

    "The PMI registered 52.4 percent, a decrease of 1.7 percentage points from January's reading of 54.1 percent, indicating expansion in the manufacturing sector for the 31st consecutive month. The New Orders Index registered 54.9 percent, a decrease of 2.7 percentage points from January's reading of 57.6 percent, reflecting the 34th consecutive month of growth in new orders.

    Prices of raw materials increased for the second consecutive month, with the Prices Index registering 61.5 percent. As was the case in January, new orders, production and employment all grew in February — although at somewhat slower rates than in January. Comments from the panel continue to reflect a generally positive outlook for the next few months."
    Category: MBS, ECON
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  • 3/1/12
    Freddie Mac: 30-Year Fixed Rate Mortgage at 3.90%
    -30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.8 point for the week ending March 1, 2012, down from last week when it also averaged 3.95 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.

    -15-year FRM this week averaged 3.17 percent with an average 0.8 point, down from last week when it also averaged 3.19 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.

    -5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.7 point, up from last week when it averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.72 percent.

    -1-year Treasury-indexed ARM averaged 2.72 percent this week with an average 0.6 point, down from last week when it averaged 2.73 percent. At this time last year, the 1-year ARM averaged 3.23 percent.
    Category: MBS, INDUSTRY
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  • 3/1/12
    Hard not to miss the significantly lower MBS prices...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
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  • 3/1/12
    ECON: Jobless Claims In Line With Expectations

    - Jobless Claims Fell To 351,000 Feb 25 Week (Consensus 351,000)
    - Last Week Revised Higher To 353k
    - Jobless Claims 4-Wk Avg Fell To 354,000 from 359,000
    - Continued Claims Fell To 3.402 mln (con. 3.400 mln)
    - Insured Unemployment Rate Unchanged At 2.7
    - Jobless Claims 4-Wk Average Lowest Since March 2008;
    - Continued Claims Lowest Since August 2008

    In the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week's revised figure of 353,000. The 4-week moving average was 354,000, a decrease of 5,500 from the previous week's revised average of 359,500.

    The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending February 18, unchanged from the prior week's unrevised rate.

    The advance number for seasonally adjusted insured unemployment during the week ending February 18, was 3,402,000, a decrease of 2,000 from the preceding week's revised level of 3,404,000. The 4-week moving average was 3,444,000, a decrease of 12,250 from the preceding week's revised average of 3,456,250.
    Category: MBS, ECON
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  • 3/1/12
    ECON: Personal Income and Spending Both Lower Than Forecast
    - Spending +0.2 Pct (Consensus +0.4 Pct) Vs Dec 0.0 Pct (Prev 0.0 Pct)
    - Income +0.3 Pct (Cons +0.4 Pct) Vs Dec +0.5 Pct (Prev +0.5 Pct)
    - Core PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.2 Pct)
    - PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.1 Pct)
    - Yoy PCE Price Index +2.4 Pct Vs Dec +2.5 Pct (Prev +2.4 Pct)
    - YoY Core PCE Index +1.9 Pct Vs Dec +1.9 Pct (Prev +1.8 Pct)
    - Real Consumer Spending Unchanged (Cons +0.3 Pct) For Third Straight Month
    - Personal Saving Rate 4.6 Pct Vs Dec 4.7 Pct


    Personal income increased $37.4 billion, or 0.3 percent, and disposable personal income (DPI) increased $14.1 billion, or 0.1 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.2 billion, or 0.2 percent. In December, personal income increased $60.2 billion, or 0.5 percent, DPI increased $48.3 billion, or 0.4 percent, and PCE increased $3.2 billion, or less than 0.1 percent, based on revised estimates.

    Real disposable income decreased 0.1 percent in January, in contrast to an increase of 0.3 percent in December. Real PCE increased less than 0.1 percent, in contrast to a decrease of less than 0.1 percent.
    Category: MBS, ECON
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  • 3/1/12
    MERS’ Role Upheld by Nevada Supreme Court
    MERSCORP Holdings, Inc. today announced that the Nevada Supreme Court affirmed two separate district court rulings that rejected challenges to the validity of Mortgage Electronic Registration Systems, Inc.’s (MERS) role in assigning interests in deeds of trust.

    “The Nevada Supreme Court has made it unquestionably clear that the MERS business model complies with Nevada law,” said MERSCORP Holdings Vice President of Corporate Communications, Janis L. Smith. “These rulings – as in all other states – reject claims challenging our legitimate role in U.S. housing.”
    Category: INDUSTRY
    Share:   
  • 3/1/12
    Freddie Mac: 30-Year Fixed Rate Mortgage at 3.90%
    -30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.8 point for the week ending March 1, 2012, down from last week when it also averaged 3.95 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.

    -15-year FRM this week averaged 3.17 percent with an average 0.8 point, down from last week when it also averaged 3.19 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.

    -5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.7 point, up from last week when it averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.72 percent.

    -1-year Treasury-indexed ARM averaged 2.72 percent this week with an average 0.6 point, down from last week when it averaged 2.73 percent. At this time last year, the 1-year ARM averaged 3.23 percent.
    Category: MBS, INDUSTRY
    Share:   
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  • 3/1/12
    Fannie 3.5's are at their best levels of the day, down...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/1/12
    excerpt from the most recent MBS Commentary post: MBS...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS
    Share:   
  • 3/1/12

    - CONSTRUCTION SPENDING -0.1 PCT (CONSENSUS +1.0 PCT)
    - FIRST DECLINE SINCE JULY
    - PRIVATE CONSTRUCTION SPENDING UNCHANGED
    - PUBLIC SPENDING -0.2 PCT

    The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent (±1.1%)* below the revised December estimate of $827.6 billion. The January figure is 7.1 percent (±1.8%) above the January 2011 estimate of $772.0 billion.

    Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as (±1.1%)* the revised December estimate of $538.7 billion. Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8 percent (±1.3%) above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5 percent (±1.1%) below the revised December estimate of $289.5 billion.

    In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2 percent (±1.8%)* below the revised December estimate of $289.0 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9 percent (±3.4%)* below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2 percent (±3.8%)* below the revised December estimate of $83.9 billion.
    Category: MBS, ECON
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  • 3/1/12

    - ISM MANUFACTURING 52.4 (CONSENSUS 54.5) VS 54.1 IN JAN
    - NEW ORDERS INDEX 54.9 IN FEBRUARY VS 57.6 IN JAN
    - EMPLOYMENT INDEX 53.2 IN FEBRUARY VS 54.3 IN JAN
    - PRICES PAID INDEX 61.5 IN FEBRUARY (CONSENSUS 58.0) VS 55.5 IN JANUARY

    Economic activity in the manufacturing sector expanded in February for the 31st consecutive month, and the overall economy grew for the 33rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

    "The PMI registered 52.4 percent, a decrease of 1.7 percentage points from January's reading of 54.1 percent, indicating expansion in the manufacturing sector for the 31st consecutive month. The New Orders Index registered 54.9 percent, a decrease of 2.7 percentage points from January's reading of 57.6 percent, reflecting the 34th consecutive month of growth in new orders.

    Prices of raw materials increased for the second consecutive month, with the Prices Index registering 61.5 percent. As was the case in January, new orders, production and employment all grew in February — although at somewhat slower rates than in January. Comments from the panel continue to reflect a generally positive outlook for the next few months."
    Category: MBS, ECON
    Share:   
  • 3/1/12
    -30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.8 point for the week ending March 1, 2012, down from last week when it also averaged 3.95 percent. Last year at this time, the 30-year FRM averaged 4.87 percent.

    -15-year FRM this week averaged 3.17 percent with an average 0.8 point, down from last week when it also averaged 3.19 percent. A year ago at this time, the 15-year FRM averaged 4.15 percent.

    -5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.7 point, up from last week when it averaged 2.80 percent. A year ago, the 5-year ARM averaged 3.72 percent.

    -1-year Treasury-indexed ARM averaged 2.72 percent this week with an average 0.6 point, down from last week when it averaged 2.73 percent. At this time last year, the 1-year ARM averaged 3.23 percent.
    Category: MBS, INDUSTRY
    Share:   
  • 3/1/12
    Hard not to miss the significantly lower MBS prices...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/1/12

    - Jobless Claims Fell To 351,000 Feb 25 Week (Consensus 351,000)
    - Last Week Revised Higher To 353k
    - Jobless Claims 4-Wk Avg Fell To 354,000 from 359,000
    - Continued Claims Fell To 3.402 mln (con. 3.400 mln)
    - Insured Unemployment Rate Unchanged At 2.7
    - Jobless Claims 4-Wk Average Lowest Since March 2008;
    - Continued Claims Lowest Since August 2008

    In the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week's revised figure of 353,000. The 4-week moving average was 354,000, a decrease of 5,500 from the previous week's revised average of 359,500.

    The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending February 18, unchanged from the prior week's unrevised rate.

    The advance number for seasonally adjusted insured unemployment during the week ending February 18, was 3,402,000, a decrease of 2,000 from the preceding week's revised level of 3,404,000. The 4-week moving average was 3,444,000, a decrease of 12,250 from the preceding week's revised average of 3,456,250.
    Category: MBS, ECON
    Share:   
  • 3/1/12
    - Spending +0.2 Pct (Consensus +0.4 Pct) Vs Dec 0.0 Pct (Prev 0.0 Pct)
    - Income +0.3 Pct (Cons +0.4 Pct) Vs Dec +0.5 Pct (Prev +0.5 Pct)
    - Core PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.2 Pct)
    - PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.1 Pct)
    - Yoy PCE Price Index +2.4 Pct Vs Dec +2.5 Pct (Prev +2.4 Pct)
    - YoY Core PCE Index +1.9 Pct Vs Dec +1.9 Pct (Prev +1.8 Pct)
    - Real Consumer Spending Unchanged (Cons +0.3 Pct) For Third Straight Month
    - Personal Saving Rate 4.6 Pct Vs Dec 4.7 Pct


    Personal income increased $37.4 billion, or 0.3 percent, and disposable personal income (DPI) increased $14.1 billion, or 0.1 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.2 billion, or 0.2 percent. In December, personal income increased $60.2 billion, or 0.5 percent, DPI increased $48.3 billion, or 0.4 percent, and PCE increased $3.2 billion, or less than 0.1 percent, based on revised estimates.

    Real disposable income decreased 0.1 percent in January, in contrast to an increase of 0.3 percent in December. Real PCE increased less than 0.1 percent, in contrast to a decrease of less than 0.1 percent.
    Category: MBS, ECON
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  • 3/1/12
    ECON: Construction Spending Falls For First Time Since July

    - CONSTRUCTION SPENDING -0.1 PCT (CONSENSUS +1.0 PCT)
    - FIRST DECLINE SINCE JULY
    - PRIVATE CONSTRUCTION SPENDING UNCHANGED
    - PUBLIC SPENDING -0.2 PCT

    The U.S. Census Bureau of the Department of Commerce announced today that construction spending during January 2012 was estimated at a seasonally adjusted annual rate of $827.0 billion, 0.1 percent (±1.1%)* below the revised December estimate of $827.6 billion. The January figure is 7.1 percent (±1.8%) above the January 2011 estimate of $772.0 billion.

    Spending on private construction was at a seasonally adjusted annual rate of $538.7 billion, nearly the same as (±1.1%)* the revised December estimate of $538.7 billion. Residential construction was at a seasonally adjusted annual rate of $253.6 billion in January, 1.8 percent (±1.3%) above the revised December estimate of $249.2 billion. Nonresidential construction was at a seasonally adjusted annual rate of $285.0 billion in January, 1.5 percent (±1.1%) below the revised December estimate of $289.5 billion.

    In January, the estimated seasonally adjusted annual rate of public construction spending was $288.3 billion, 0.2 percent (±1.8%)* below the revised December estimate of $289.0 billion. Educational construction was at a seasonally adjusted annual rate of $71.6 billion, 0.9 percent (±3.4%)* below the revised December estimate of $72.2 billion. Highway construction was at a seasonally adjusted annual rate of $83.7 billion, 0.2 percent (±3.8%)* below the revised December estimate of $83.9 billion.
    Category: MBS, ECON
    Share:   
  • 3/1/12
    ECON: ISM Manufacturing Misses Consensus, But Continues to Rise

    - ISM MANUFACTURING 52.4 (CONSENSUS 54.5) VS 54.1 IN JAN
    - NEW ORDERS INDEX 54.9 IN FEBRUARY VS 57.6 IN JAN
    - EMPLOYMENT INDEX 53.2 IN FEBRUARY VS 54.3 IN JAN
    - PRICES PAID INDEX 61.5 IN FEBRUARY (CONSENSUS 58.0) VS 55.5 IN JANUARY

    Economic activity in the manufacturing sector expanded in February for the 31st consecutive month, and the overall economy grew for the 33rd consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business®.

    "The PMI registered 52.4 percent, a decrease of 1.7 percentage points from January's reading of 54.1 percent, indicating expansion in the manufacturing sector for the 31st consecutive month. The New Orders Index registered 54.9 percent, a decrease of 2.7 percentage points from January's reading of 57.6 percent, reflecting the 34th consecutive month of growth in new orders.

    Prices of raw materials increased for the second consecutive month, with the Prices Index registering 61.5 percent. As was the case in January, new orders, production and employment all grew in February — although at somewhat slower rates than in January. Comments from the panel continue to reflect a generally positive outlook for the next few months."
    Category: MBS, ECON
    Share:   
  • 3/1/12
    ECON: Jobless Claims In Line With Expectations

    - Jobless Claims Fell To 351,000 Feb 25 Week (Consensus 351,000)
    - Last Week Revised Higher To 353k
    - Jobless Claims 4-Wk Avg Fell To 354,000 from 359,000
    - Continued Claims Fell To 3.402 mln (con. 3.400 mln)
    - Insured Unemployment Rate Unchanged At 2.7
    - Jobless Claims 4-Wk Average Lowest Since March 2008;
    - Continued Claims Lowest Since August 2008

    In the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week's revised figure of 353,000. The 4-week moving average was 354,000, a decrease of 5,500 from the previous week's revised average of 359,500.

    The advance seasonally adjusted insured unemployment rate was 2.7 percent for the week ending February 18, unchanged from the prior week's unrevised rate.

    The advance number for seasonally adjusted insured unemployment during the week ending February 18, was 3,402,000, a decrease of 2,000 from the preceding week's revised level of 3,404,000. The 4-week moving average was 3,444,000, a decrease of 12,250 from the preceding week's revised average of 3,456,250.
    Category: MBS, ECON
    Share:   
  • 3/1/12
    ECON: Personal Income and Spending Both Lower Than Forecast
    - Spending +0.2 Pct (Consensus +0.4 Pct) Vs Dec 0.0 Pct (Prev 0.0 Pct)
    - Income +0.3 Pct (Cons +0.4 Pct) Vs Dec +0.5 Pct (Prev +0.5 Pct)
    - Core PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.2 Pct)
    - PCE Price Index +0.2 Pct (Cons +0.2 Pct) Vs Dec +0.1 Pct (Prev +0.1 Pct)
    - Yoy PCE Price Index +2.4 Pct Vs Dec +2.5 Pct (Prev +2.4 Pct)
    - YoY Core PCE Index +1.9 Pct Vs Dec +1.9 Pct (Prev +1.8 Pct)
    - Real Consumer Spending Unchanged (Cons +0.3 Pct) For Third Straight Month
    - Personal Saving Rate 4.6 Pct Vs Dec 4.7 Pct


    Personal income increased $37.4 billion, or 0.3 percent, and disposable personal income (DPI) increased $14.1 billion, or 0.1 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.2 billion, or 0.2 percent. In December, personal income increased $60.2 billion, or 0.5 percent, DPI increased $48.3 billion, or 0.4 percent, and PCE increased $3.2 billion, or less than 0.1 percent, based on revised estimates.

    Real disposable income decreased 0.1 percent in January, in contrast to an increase of 0.3 percent in December. Real PCE increased less than 0.1 percent, in contrast to a decrease of less than 0.1 percent.
    Category: MBS, ECON
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