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Do you expect the home buyer tax credit extension to contribute to a noticeable pick up in loan production?

Created By: Adam Quinones
  • Yes, I anticipate an increase in activity (26.6%)
  • Only a modest upturn in production (44.5%)
  • Nope. 2009 demand stole from 2010 demand (28.9%)

Federal Reserve MBS Purchase Program





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  • Thursday 7/31/08 ... Keep on keepin' on

    Comments (0)
    by Matthew Graham on July 31 2008, 7:28 PM
    Super UN-volatile day. same 4 tick range since 9AM. It's a very stable float through the end of the day as lenders that hedged continue to come out with price improvements. The decision will come at cut-off tonight to see if you want to take the gains or if you think that tomorrow's data could be worse than expected. It's really about a 50/50 from a fundamental read. With Jobless claims crushing estimates, some might consider this a sign that NFP could in fact be worse than expected. Plus we had
    Read More

  • Thursday 7/31 Keep Floating (full content to follow)

    Comments (0)
    by Matthew Graham on July 31 2008, 4:46 PM
    Read More

  • Thursday 7/31 At A Glance

    Comments (0)
    by Matthew Graham on July 31 2008, 12:52 PM
    At A Glance Action Packed Day Today, going mostly in our favor so far MBS up by 9 ticks with the 6.0 at 100-17 INFLATION Employment Cost Index exactly as expected at .7% Quarter over Quarter change GDP missed it's 2.4 consensus coming in at 1.9. Numerous other components we'll discuss later, but in general, that's good for bonds Jobless Claims demolished an already high estimate of 398k coming in at 448k LOCK/FLOAT; floating for now. we'll have to take a serious look at the gains today and see if
    Read More

  • Thursday 7/31 ... Even Before At A Glance

    Comments (0)
    by Matthew Graham on July 31 2008, 12:45 PM
    Things are looking good so far (more to follow)
    Read More

  • Wednesday 7/30 ... In A Yellow Wood

    Comments (0)
    by Matthew Graham on July 30 2008, 9:33 PM
    Two Roads Diverge before us now. We have recaptured the gains we lost last week. This is as we had hoped. But a +9000 reading on the ADP, loathe though we may be to put any faith in that report, must at least give us some measure of pause in hoping for a weak reading in NFP on Friday. Today's Numbers 6.0's started around 100-00, dropped to 99-28, and progressively rallied to their daily plateau at 100-07 bid / 100-08 ask The visual of this is on the graph from earlier. No up or down movement after
    Read More

  • Wednesday 7/30 ... Still Looking Good

    Comments (0)
    by Matthew Graham on July 30 2008, 7:12 PM
    here's an up to date graph for you on the price action of FNMA 6.0's As you can see, after a slight dip this morning, there has been relatively little volatility and a good amount of buying interest in general. Spreads versus treasuries have continued to hold firm. We'll get another more detailed post out to you with more factors to consider about possibly floating into the NFP report on Friday. Until then, enjoy the price improvements that should have hit you (or that will hit) from most lenders
    Read More

  • And Keep on Floating (again)

    Comments (0)
    by Matthew Graham on July 30 2008, 4:57 PM
    things are looking REALLY good now. You'll get a full post today, we promise.
    Read More

  • Keep Floating (more to follow)

    Comments (0)
    by Matthew Graham on July 30 2008, 3:55 PM
    Read More

  • Wednesday 7/30 ... Hello Again...

    Comments (0)
    by Matthew Graham on July 30 2008, 1:48 PM
    Really nice things happening right now as spreads are obviously holding firm vs. treasuries. What I am liking right now is that the Dow has risen 117 and the S&P has risen 10.77. These are nearly 1% rises for equities. As a result of this, money has logically flowed out of the bond market leaving the price on the 5UST down 10 ticks and the 10UST down 17 ticks. But because of the firm spreads, Fannie 6.0's are down a scant 3 ticks and the Freddie (I know we never talk about him, the reason being
    Read More

  • Wednesday 7/30 ... At A Glance

    Comments (0)
    by Matthew Graham on July 30 2008, 1:14 PM
    At A Glance: Housing Recovery Act Signed Into Law ADP report says private payrolls rose 9k. Fuels slight optimism (for some) for Friday's report. Mortgage Applications at their lowest level since December 2000. Stocks like all the news, futures rise bonds, not so much, BUT spreads are tightening owing to some of the positive news relating specifically to mortgages (housing bill) currently down an eighth in YSP day over day, and fighting to hold onto it's favorite recent support level at 99-28. QUICK
    Read More

  • Tuesday 7/29 ... Some Scenery At The Close

    Comments (0)
    by Matthew Graham on July 29 2008, 10:02 PM
    Even though the total score today is negative, our rally was impressive considering stock strength. It's another very good sign for those that are still "floating for a better day." So take a look at the below graph and you can basically see a cross section of our very own grand canyon.
    Read More

  • tuesday 7/29 Climbing Out Of The Canyon

    Comments (0)
    by Matthew Graham on July 29 2008, 7:00 PM
    Rally building in fixed income. Fannie 6.0's currently only down 7 ticks on the day at 100-00.
    Read More

  • Tuesday 7/29 ... Finding some support

    Comments (0)
    by Matthew Graham on July 29 2008, 5:20 PM
    MBS has bitten, fought and clawed it's way back under a .375 YSP loss on the day and currently holding right there at 12 ticks down and 99-27. reprice for the worse risk is waning. In fact, lenders that priced "crappy" this morning may even be considering reprices for the better.
    Read More

  • Case Shiller Index Graph

    Comments (0)
    by Matthew Graham on July 29 2008, 3:36 PM
    Here's a graph of all the Case-Shiller data through today.
    Read More

  • slight cause for concern

    Comments (0)
    by Matthew Graham on July 29 2008, 2:10 PM
    we've lost another 2 ticks since last post, pushing us to the lows of the morning. those with short term gameplans should consider locking. BUT, although it's no guarantee, floaters will probably have access to better rates either on Friday, or some time in the following week. So if you have a week and a half or so before needing to lock, you might consider floating. Just watch those stocks! Bonds are following them like white on rice.
    Read More
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