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You are viewing Micro News from Thursday, Mar 15, 2012 - View all recent Micro News
  • 3/15/12
    Shortly after hitting their best levels of the day...
    MBS Updates are a service provided to MBS Live! subscribers only.
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    Category: MBS, alert
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  • 3/15/12
    We've seen several positive reprices already this morning...
    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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  • 3/15/12
    NAHB: Ninety-Nine Housing Markets Seen as Improving in March
    The tally of housing markets showing measurable improvement reached 99 in March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. Currently 33 states (including the District of Columbia) are represented by at least one market on the list.

    The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. The 99 markets on the March IMI represent a net gain of one from February, with 31 metros being added and 30 markets slipping from the list, due primarily to incremental softening in house prices. Notable new entrants on the IMI in March include Orlando, Fla.; Rochester, N.Y.; Columbus, Ohio; and Austin and San Antonio, Texas. Meanwhile, Anchorage; Iowa City; Washington, D.C.; and Jackson, Miss. all returned to the list as a result of recent revisions in their employment data.

    "In March, 68 metros retained their status as improving housing markets, while 31 new markets joined the list and 33 states had at least one entry on it," said NAHB Chairman Barry Rutenberg. "Meanwhile, 10 states now have four or more metros on the improving markets list, with Texas's 12 entries topping all others. The point is that economic conditions have been consistently strengthening in a diverse array of individual markets nationwide."
    Category: INDUSTRY
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  • 3/15/12
    FHFA Publishes Final Rule on Private Transfer Fee
    The Federal Housing Finance Agency (FHFA) has sent a final rule to the Federal Register on private transfer fees. The final rule limits Fannie Mae, Freddie Mac and the Federal Home Loan Banks from dealing in mortgages on properties encumbered by certain types of private transfer fee covenants and in certain related securities. Transfer fees are contractual arrangements where an owner pays a fixed amount or a percentage of the sales price at the time of transferring the property.
    Category: INDUSTRY
    Share:   
  • 3/15/12
    ECON: Philly Fed Index Up Slightly, New Orders/Prices Down
    Manufacturing firms responding to the monthly Business Outlook Survey suggest that regional manufacturing activity con-tinued to grow at a moderate pace in March. The survey's broad indicators for general activity, new orders, shipments, and employment all remained positive. Firms continued to report price pressures, but responses suggest that pressures have eased from the previous month. The survey's broad indicators of future activity remained at levels consistent with continued optimism.

    The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, edged slightly higher, from a reading of 10.2 in February to 12.5, its highest reading since April of last year (see Chart). Indexes for new orders and shipments remained positive but weaker than their February levels. The new orders index decreased 8 points, to 3.3, while the shipments index declined 12 points, to 3.5. The indexes for both delivery times and unfilled orders, which recorded slightly positive readings last month, fell back into negative territory this month, suggesting faster deliveries and a decline in unfilled orders.

    Firms' responses suggest a slight pickup in levels of employment this month. The current employment index, which has been positive for seven consecutive months, increased 6 points. Twenty-two percent of the firms reported an increase in employment, compared to 15 percent in February. Firms reporting a longer workweek (20 percent) only narrowly outnumbered those reporting a shorter one (17 percent), and the current workweek index decreased 7 points.
    Category: MBS, ECON
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  • 3/15/12
    Freddie Mac: Mortgage Rates Follow Bond Yields Higher
    30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.8 point for the week ending March 15, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.76 percent.

    15-year FRM this week averaged 3.16 percent with an average 0.8 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 15-year FRM averaged 3.97 percent.

    5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.8 point, up from last week when it averaged 2.81 percent. A year ago, the 5-year ARM averaged 3.57 percent.

    1-year Treasury-indexed ARM averaged 2.79 percent this week with an average 0.6 point, up from last week when it averaged 2.73 percent. At this time last year, the 1-year ARM averaged 3.17 percent.
    Category: INDUSTRY
    Share:   
  • 3/15/12
    Things remain shaky, tenuous, nerve-racking, uncertain...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/15/12
    ECON: Empire State Manufacturing Higher Than Expected
    * Empire State Index 20.21 vs 17.50 consensus and 19.53 in Feb
    * Employment component up to 13.58 vs 11.76 last time
    * Big jump in prices paid from 25.88 to 50.62
    * Prices Paid Highest since June 2011
    * Overall Index highest since June 2010

    The March Empire State Manufacturing Survey indicates that manufacturing activity in New York State expanded at a moderate pace. The general business conditions index was little changed at 20.2, its fourth consecutive positive reading.

    The new orders and shipments indexes were both positive but slightly lower, indicating continued growth in orders and shipments, though at a somewhat slower pace than in the last month.

    The prices paid index rose a steep 25 points to 50.6, its highest level since summer 2011, and the prices received index was positive but two points lower than in February.

    Employment indexes rose and indicated continued growth in both employment levels and the average workweek.

    Indexes for the six-month outlook, though generally somewhat lower than they were last month, conveyed a high degree of optimism, and the capital spending index rose to its highest level in more than a year.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    ECON: Inflation Cooler Than Expected At Producer Level
    *PPI +0.4 vs +0.5 consensus and +0.1 last month
    * Core up 0.2 as expected and better than Jan's +0.4
    * Smallest rise since Sept 2011
    * Year over year, smallest rise since 8/2010

    The Producer Price Index for finished goods advanced 0.4 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Finished goods prices rose 0.1 percent in January and decreased 0.1 percent in December. At the earlier stages of processing, the index for intermediate goods moved up 0.7 percent and crude goods prices increased 0.4 percent. On an unadjusted basis, the finished goods index rose 3.3 percent for the 12 months ended February 2012, the smallest year-over-year rise since a similar 3.3-percent advance in August 2010.
    Category: MBS, ECON
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  • 3/15/12
    ECON: Jobless Claims Slightly Lower Than Expected
    *Claims at 351k vs 356k consensus
    *Previous week revised higher to 365k from 362k
    *4 week average flat at 355,750

    In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week's revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week's revised average of 355,750.

    The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending March 3, a decrease of 0.1 percentage point from the prior week's unrevised rate of 2.7 percent.

    The advance number for seasonally adjusted insured unemployment during the week ending Mach 3, was 3,343,000, a decrease of 81,000 from the preceding week's revised level of 3,424,000.

    The 4-week moving average was 3,394,250, a decrease of 25,250 from the preceding week's revised average of 3,419,500.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    NAHB: Ninety-Nine Housing Markets Seen as Improving in March
    The tally of housing markets showing measurable improvement reached 99 in March, according to the National Association of Home Builders/First American Improving Markets Index (IMI), released today. Currently 33 states (including the District of Columbia) are represented by at least one market on the list.

    The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. The 99 markets on the March IMI represent a net gain of one from February, with 31 metros being added and 30 markets slipping from the list, due primarily to incremental softening in house prices. Notable new entrants on the IMI in March include Orlando, Fla.; Rochester, N.Y.; Columbus, Ohio; and Austin and San Antonio, Texas. Meanwhile, Anchorage; Iowa City; Washington, D.C.; and Jackson, Miss. all returned to the list as a result of recent revisions in their employment data.

    "In March, 68 metros retained their status as improving housing markets, while 31 new markets joined the list and 33 states had at least one entry on it," said NAHB Chairman Barry Rutenberg. "Meanwhile, 10 states now have four or more metros on the improving markets list, with Texas's 12 entries topping all others. The point is that economic conditions have been consistently strengthening in a diverse array of individual markets nationwide."
    Category: INDUSTRY
    Share:   
  • 3/15/12
    FHFA Publishes Final Rule on Private Transfer Fee
    The Federal Housing Finance Agency (FHFA) has sent a final rule to the Federal Register on private transfer fees. The final rule limits Fannie Mae, Freddie Mac and the Federal Home Loan Banks from dealing in mortgages on properties encumbered by certain types of private transfer fee covenants and in certain related securities. Transfer fees are contractual arrangements where an owner pays a fixed amount or a percentage of the sales price at the time of transferring the property.
    Category: INDUSTRY
    Share:   
  • 3/15/12
    Freddie Mac: Mortgage Rates Follow Bond Yields Higher
    30-year fixed-rate mortgage (FRM) averaged 3.92 percent with an average 0.8 point for the week ending March 15, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.76 percent.

    15-year FRM this week averaged 3.16 percent with an average 0.8 point, up from last week when it averaged 3.13 percent. A year ago at this time, the 15-year FRM averaged 3.97 percent.

    5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.83 percent this week, with an average 0.8 point, up from last week when it averaged 2.81 percent. A year ago, the 5-year ARM averaged 3.57 percent.

    1-year Treasury-indexed ARM averaged 2.79 percent this week with an average 0.6 point, up from last week when it averaged 2.73 percent. At this time last year, the 1-year ARM averaged 3.17 percent.
    Category: INDUSTRY
    Share:   
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  • 3/15/12
    Shortly after hitting their best levels of the day...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/15/12
    We've seen several positive reprices already this morning...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/15/12
    Manufacturing firms responding to the monthly Business Outlook Survey suggest that regional manufacturing activity con-tinued to grow at a moderate pace in March. The survey's broad indicators for general activity, new orders, shipments, and employment all remained positive. Firms continued to report price pressures, but responses suggest that pressures have eased from the previous month. The survey's broad indicators of future activity remained at levels consistent with continued optimism.

    The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, edged slightly higher, from a reading of 10.2 in February to 12.5, its highest reading since April of last year (see Chart). Indexes for new orders and shipments remained positive but weaker than their February levels. The new orders index decreased 8 points, to 3.3, while the shipments index declined 12 points, to 3.5. The indexes for both delivery times and unfilled orders, which recorded slightly positive readings last month, fell back into negative territory this month, suggesting faster deliveries and a decline in unfilled orders.

    Firms' responses suggest a slight pickup in levels of employment this month. The current employment index, which has been positive for seven consecutive months, increased 6 points. Twenty-two percent of the firms reported an increase in employment, compared to 15 percent in February. Firms reporting a longer workweek (20 percent) only narrowly outnumbered those reporting a shorter one (17 percent), and the current workweek index decreased 7 points.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    Things remain shaky, tenuous, nerve-racking, uncertain...
    MBS Updates are a service provided to MBS Live! subscribers only.
    Learn More | Start a Free Trial | View MBS Prices
    Category: MBS, alert
    Share:   
  • 3/15/12
    * Empire State Index 20.21 vs 17.50 consensus and 19.53 in Feb
    * Employment component up to 13.58 vs 11.76 last time
    * Big jump in prices paid from 25.88 to 50.62
    * Prices Paid Highest since June 2011
    * Overall Index highest since June 2010

    The March Empire State Manufacturing Survey indicates that manufacturing activity in New York State expanded at a moderate pace. The general business conditions index was little changed at 20.2, its fourth consecutive positive reading.

    The new orders and shipments indexes were both positive but slightly lower, indicating continued growth in orders and shipments, though at a somewhat slower pace than in the last month.

    The prices paid index rose a steep 25 points to 50.6, its highest level since summer 2011, and the prices received index was positive but two points lower than in February.

    Employment indexes rose and indicated continued growth in both employment levels and the average workweek.

    Indexes for the six-month outlook, though generally somewhat lower than they were last month, conveyed a high degree of optimism, and the capital spending index rose to its highest level in more than a year.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    *PPI +0.4 vs +0.5 consensus and +0.1 last month
    * Core up 0.2 as expected and better than Jan's +0.4
    * Smallest rise since Sept 2011
    * Year over year, smallest rise since 8/2010

    The Producer Price Index for finished goods advanced 0.4 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Finished goods prices rose 0.1 percent in January and decreased 0.1 percent in December. At the earlier stages of processing, the index for intermediate goods moved up 0.7 percent and crude goods prices increased 0.4 percent. On an unadjusted basis, the finished goods index rose 3.3 percent for the 12 months ended February 2012, the smallest year-over-year rise since a similar 3.3-percent advance in August 2010.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    *Claims at 351k vs 356k consensus
    *Previous week revised higher to 365k from 362k
    *4 week average flat at 355,750

    In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week's revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week's revised average of 355,750.

    The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending March 3, a decrease of 0.1 percentage point from the prior week's unrevised rate of 2.7 percent.

    The advance number for seasonally adjusted insured unemployment during the week ending Mach 3, was 3,343,000, a decrease of 81,000 from the preceding week's revised level of 3,424,000.

    The 4-week moving average was 3,394,250, a decrease of 25,250 from the preceding week's revised average of 3,419,500.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    ECON: Philly Fed Index Up Slightly, New Orders/Prices Down
    Manufacturing firms responding to the monthly Business Outlook Survey suggest that regional manufacturing activity con-tinued to grow at a moderate pace in March. The survey's broad indicators for general activity, new orders, shipments, and employment all remained positive. Firms continued to report price pressures, but responses suggest that pressures have eased from the previous month. The survey's broad indicators of future activity remained at levels consistent with continued optimism.

    The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, edged slightly higher, from a reading of 10.2 in February to 12.5, its highest reading since April of last year (see Chart). Indexes for new orders and shipments remained positive but weaker than their February levels. The new orders index decreased 8 points, to 3.3, while the shipments index declined 12 points, to 3.5. The indexes for both delivery times and unfilled orders, which recorded slightly positive readings last month, fell back into negative territory this month, suggesting faster deliveries and a decline in unfilled orders.

    Firms' responses suggest a slight pickup in levels of employment this month. The current employment index, which has been positive for seven consecutive months, increased 6 points. Twenty-two percent of the firms reported an increase in employment, compared to 15 percent in February. Firms reporting a longer workweek (20 percent) only narrowly outnumbered those reporting a shorter one (17 percent), and the current workweek index decreased 7 points.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    ECON: Empire State Manufacturing Higher Than Expected
    * Empire State Index 20.21 vs 17.50 consensus and 19.53 in Feb
    * Employment component up to 13.58 vs 11.76 last time
    * Big jump in prices paid from 25.88 to 50.62
    * Prices Paid Highest since June 2011
    * Overall Index highest since June 2010

    The March Empire State Manufacturing Survey indicates that manufacturing activity in New York State expanded at a moderate pace. The general business conditions index was little changed at 20.2, its fourth consecutive positive reading.

    The new orders and shipments indexes were both positive but slightly lower, indicating continued growth in orders and shipments, though at a somewhat slower pace than in the last month.

    The prices paid index rose a steep 25 points to 50.6, its highest level since summer 2011, and the prices received index was positive but two points lower than in February.

    Employment indexes rose and indicated continued growth in both employment levels and the average workweek.

    Indexes for the six-month outlook, though generally somewhat lower than they were last month, conveyed a high degree of optimism, and the capital spending index rose to its highest level in more than a year.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    ECON: Inflation Cooler Than Expected At Producer Level
    *PPI +0.4 vs +0.5 consensus and +0.1 last month
    * Core up 0.2 as expected and better than Jan's +0.4
    * Smallest rise since Sept 2011
    * Year over year, smallest rise since 8/2010

    The Producer Price Index for finished goods advanced 0.4 percent in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Finished goods prices rose 0.1 percent in January and decreased 0.1 percent in December. At the earlier stages of processing, the index for intermediate goods moved up 0.7 percent and crude goods prices increased 0.4 percent. On an unadjusted basis, the finished goods index rose 3.3 percent for the 12 months ended February 2012, the smallest year-over-year rise since a similar 3.3-percent advance in August 2010.
    Category: MBS, ECON
    Share:   
  • 3/15/12
    ECON: Jobless Claims Slightly Lower Than Expected
    *Claims at 351k vs 356k consensus
    *Previous week revised higher to 365k from 362k
    *4 week average flat at 355,750

    In the week ending March 10, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 14,000 from the previous week's revised figure of 365,000. The 4-week moving average was 355,750, unchanged from the previous week's revised average of 355,750.

    The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending March 3, a decrease of 0.1 percentage point from the prior week's unrevised rate of 2.7 percent.

    The advance number for seasonally adjusted insured unemployment during the week ending Mach 3, was 3,343,000, a decrease of 81,000 from the preceding week's revised level of 3,424,000.

    The 4-week moving average was 3,394,250, a decrease of 25,250 from the preceding week's revised average of 3,419,500.
    Category: MBS, ECON
    Share:   
 
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