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"Bernanke on Housing's Role in Recovery; Mortgage Rates Battle Back"
Published: 2/10/2012
Bottom Right Default
State Name: District of Columbia
State Name underscore: District_of_Columbia
State Name dash: District-of-Columbia
State Name lower underscore: district_of_columbia
State Name lower dash: district-of-columbia
State Name lower: district of columbia
State Abbreviation: DC
State Abbreviation Lower: dc
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MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
  • Happy Friday Night To You!

    by Matthew Graham on February 29 2008, 11:55 PM
    Well, I'm vindicated! I can remember if it was Monday or Last Friday that I mentioned we should have our best rates in quite some time today. I know you haven't seen it reflected in lender's rate sheets yet, but the MBS prices support rate levels of late...
  • Keep Floating

    by Matthew Graham on February 29 2008, 7:58 PM
    MBS's are improving!
  • Ending The Week On A High Note

    by Matthew Graham on February 29 2008, 3:49 PM
    A high note for bond prices, that is, which as you know means lower rates yet again. Did you float with me? I hope so! we're improved by about 14/32nds today on the 5.5% coupon. The best thing about gaining ground today is not necessarily related to today...
  • Before the Dawn

    by Matthew Graham on February 29 2008, 12:44 PM
    I rarely (very rarely) comment on overnight and futures trading since when the markets open all the fluctuations from overnight are at moot point. But for what it's worth, we'll be starting out this morning from a position of strength. Mortgage Backed...
  • Finished Strong

    by Matthew Graham on February 29 2008, 12:31 AM
    Rates held their gains despite some mid-day fluffiness. In fact, we ended near our highs of the session. Hopefully we can extend the strength into tomorrow. I'm betting we will as I just past the lock cut-off time on a couple of my own loans. Roll the...
  • Heads Up! (Mid-Afternoon Update)

    by Matthew Graham on February 28 2008, 7:21 PM
    Due to some volatility in bonds, some lenders may conservatively reprice for the worse. Lock if you can't afford to lose any ground. But in general the price fluctuations are not drastic. Stay tuned for updates.
  • Don't Take The Bait!

    by Matthew Graham on February 28 2008, 4:47 PM
    From what I've seen coming across my desk this morning, lenders have not even begun to price the improvements into their rate sheets this morning. For instance, most lenders have improved by about .375% discount, whereas MBS are improved 22-32/32nds....
  • Yee Haw!

    by Matthew Graham on February 28 2008, 3:31 PM
    I tried to think of clever headlines for today's blog, but at the end of the brainstorming session "Yee Haw!" fit best. The Data: 1.GDP Real GDP - Quarter over Quarter Change Consensus 0.7 % Actual 0.6 % GDP price index - Quarter over Quarter Consensus...
  • ending the day strong

    by Matthew Graham on February 27 2008, 9:37 PM
    Looks like we are going to push to the highs of the day as MBS trading closes. The 5.5 coupon is up 20/32nds! That's it's highest level of the day and has been a technical "ceiling" that has enticed bond holders to sell earlier in the day. Volume reports...
  • Still Fighting the Good Fight

    by Matthew Graham on February 27 2008, 7:43 PM
    Keep you lock sheets handy, but it looks like he are holding a trend on the technical line of improvement still! In easier to understand terms: The line that graphs MBS prices today has been up and down, but if one were to plot points each time the line...
  • Back and Forth a bit, but Holding Gains

    by Matthew Graham on February 27 2008, 5:29 PM
    After the Fannie and Freddie News (regulator lifted their investment caps), the MBS slipped about 5-7/32nds across the board. They have recouped most of those losses and since those losses were from their highest point of the day, that leaves us in great...
  • CHARGE!!!!!!

    by Matthew Graham on February 27 2008, 4:13 PM
    The epic battle of the week between economic weakness and inflation rages on today. Yesterday inflation had some wind taken out of it's sails and Mortgage Backed Securities (MBS) advanced nicely. As we discussed, yesterday's PPI data was the only major...
  • BONDS CONTINUE TO IMPROVE

    by Matthew Graham on February 26 2008, 7:39 PM
    As officials from the FED comment that the economic slowdown is more of a concern than inflation, mortgage bonds are reacting favorably. Expect more price improvements to come soon.
  • FED'S KOHN SAYS INFLATION TO SLOW

    by Matthew Graham on February 26 2008, 5:19 PM
    Fed Vice Chairman Donald Kohn spoke just now and had 3 important things to say that will impact mortgage rates: 1. Rate Cuts won't prevent near term economic weakness 2. Return to growth will "take a while" 3. Most importantly, he does not expect recent...
  • Mortgage Backed Securities Fight Inflation

    by Matthew Graham on February 26 2008, 2:58 PM
    Perhaps it's due to yesterday's sell off, or perhaps there is support from weak economic data, but even in the face of dismal inflation data, MBS are holding steady on the day. the 5.5% coupon is actually trading up right now by 6/32nds. This is truly...
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Mortgage Rates:
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