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Should the FTHB Tax Credit be extended?

Created By: Glenn Setzer
  • Yes (76.6%)
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Federal Reserve MBS Purchase Program

  • MBS UPDATE: NOT PRICE UPDATE!!!

    by Adam Quinones on January 30 2009, 7:27 PM

    3PM MARKS FN30_______________________ GN30 __________________________ FN 4.0 -------->>>> +0-07 to 99-09 GN 4.0 -------->>>> +0-02 to 99-13 FN 4.5 -------->>>> +0-06 to 100-21 GN 4.5 -------->>>> +0-09 to 100-25 FN 5.0 -------->>>> +0-06 to 101-21 GN 5.0 -------->>>> +0-05 to 101-28 FN 5.5 -------->>>> +0-05 to 102-10 GN 5.5 -------->>>> +0-07 to 102-15 FN 6.0 -------->>>> +0-00 to 103-01 GN
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  • MBS UPDATE: Price Update

    by Victor Burek on January 30 2009, 5:53 PM

    Current FNMA Prices Fn 4.5-> +0-08 to 100-23 Fn 5.0-> +0-06 to 101-21 Fn 5.5-> +0-06 to 102-11 Fn 6.0-> 0-00 to 103-01 Risk of reprice for worse appears to have passed. Got reports of 1 lender repricing for worse but they have since given the reprice back and are not back to earlier levels.
  • MBS UPDATE: Price Update

    by Victor Burek on January 30 2009, 3:58 PM

    Current FNMA pricing Fn 4.5-> +0-07 to 100-22 Fn 5.0-> +0-04 to 101-19 Fn 5.5-> +0-04 to 102-09 Fn 6.0-> 0-00 to 103-01 Risk of reprice for worse is unlikely. We had reports of 1 lender repricing for worse at last drop, but they have since given it back with a positive reprice.
  • MBS UPDATE: Price Update

    by Victor Burek on January 30 2009, 3:10 PM

    FNMA prices- More reprices for worse possible. Fn 4.5-> +0-03 to 100-18 Fn 5.0-> +0-03 to 101-18 Fn 5.5-> +0-04 to 102-09 Fn 6.0-> -0-01 to 103-00
  • MBS UPDATE : Price Update

    by Victor Burek on January 30 2009, 2:29 PM

    Due to the rapid drop a few minutes ago, some more aggressively priced lenders might do a reprice for the worse. Still at same pricing level as last post.
  • MBS UPDATE: Price Update

    by Victor Burek on January 30 2009, 2:05 PM

    We just had a quick drop at offical close. Fn 4.5-> +0-06 to 100-21 Gn 4.5-> +0-10 to 100-26 Fn 5.0-> +0-06 to 101-21 Gn 5.0-> +0-06 to 101-29 Fn 5.5-> +0-07 to 102-12 Gn 5.5-> +0-06 to 102-14 Fn 6.0-> +0-01 to 103-02 Gn 6.0-> +0-07 to 102-28
  • MBS UPDATE: Price Update

    by Victor Burek on January 30 2009, 1:53 PM

    Here is current pricing Fn 4.5-> +0-11 to 100-26 Gn 4.5-> +0-08 to 100-24 Fn 5.0-> +0-13 to 101-28 Gn 5.0-> +0-06 to 101-29 Fn 5.5-> +0-10 to 102-15 Gn 5.5-> +0-09 to 102-17 Fn 6.0-> -0-04 to 102-29 Gn 6.0-> +0-10 to 102-31
  • MBS UPDATE: Better Bids

    by Adam Quinones on January 30 2009, 1:26 PM

    Content is coming...Matt is pretty sick this AM so its been a busy morning. You readers have given me plenty of issues to address. Doing my best to get all your perplexities clarified. Bear with me...here is a price update. We are indeed improving. Happy Friday so far... Fn 4.5-> +0-08 to 100-23 Gn 4.5-> +0-10 to 100-26 Fn 5.0-> +0-08 to 101-23 Gn 5.0-> +0-08 to 101-31 Fn 5.5-> +0-08 to 102-13 Gn 5.5-> +0-07 to 102-15 Fn 6.0-> +0-03 to 103-04 Gn 6.0-> +0-09 to 102-30 Everyone
  • MBS UPDATE: Price Update

    by Adam Quinones on January 30 2009, 10:23 AM

    Sorry for the delay...commentary still in the works here is snap shot Fn 4.5-> +0-06 to 100-21 Gn 4.5-> +0-05 to 100-21 Fn 5.0-> +0-05 to 101-20 Gn 5.0-> +0-03 to 101-26 Fn 5.5-> +0-06 to 102-11 Gn 5.5-> +0-04 to 102-12 Fn 6.0-> +0-02 to 103-03 Gn 6.0-> +0-07 to 102-28 Rate sheets are smidge better so far...
  • MBS OPEN: BUY THE DIPS

    by Adam Quinones on January 30 2009, 8:33 AM

    SELL THE RIPS AND BUY THE DIPS!!! Fn 4.5-> +0-11 to 100-26 Gn 4.5-> +0-09 to 100-26 Fn 5.0-> +0-08 to 101-23 Gn 5.0-> +0-06 to 101-29 Fn 5.5-> +0-04 to 102-12 Gn 5.5-> +0-05 to 102-13 Fn 6.0-> +0-03 to 103-04 Gn 6.0-> +0-07 to 102-28 Morning Commentary to Follow....
  • MBS UPDATE: Fed Purchases $16.8BN

    by Adam Quinones on January 29 2009, 3:39 PM

    Price Update...sellers are pushing the low end of the stack into the discount. Cheaper MBS means buying opportunity!!!! Once Negative Convexity takes over thinner coupons will start to look increasingly inexpensive. We aren't losing the faith... Fn 4.0-> -0-21 to 99-09 Fn 4.5-> -0-19 to 100-19 Gn 4.5-> -0-15 to 100-19 Fn 5.0-> -0-13 to 101-19 Gn 5.0-> -0-14 to 101-25 Fn 5.5-> -0-09 to 102-10 Gn 5.5-> -0-09 to 102-12 Fn 6.0-> -0-03 to 103-02 Gn 6.0-> -0-03 to 102-27
  • MBS ALERT: Bona Fide Sell Off

    by Matthew Graham on January 29 2009, 3:03 PM

    Even in the 5 minutes from last post, down further still. 4.0's down to 99-07 4.5's to 100-19 5.0's to 101-20 Previous repricers may reprice AGAIN, and those who haven't have more cause.
  • MBS CLOSE: Lows of the day

    by Matthew Graham on January 29 2009, 2:56 PM

    4.0's down to 99-11 4.5's down to 100-22 5.0's down to 101-18 Lowest levels of the day and near the lows of the last time we hit the bottom of this post-fed-buying range. If you haven't seen them already, reprices for the worse become more and more likely.
  • MBS UPDATE: More Up in Coupon

    by Adam Quinones on January 29 2009, 1:19 PM

    MBS Stack Sell Off is Intensifying... Fn 4.0-> -0-16 to 99-14 Fn 4.5-> -0-12 to 100-26 Gn 4.5-> -0-10 to 100-28 Fn 5.0-> -0-08 to 101-24 Gn 5.0-> -0-08 to 101-31 Fn 5.5-> -0-06 to 102-13 Gn 5.5-> -0-06 to 102-15 Fn 6.0-> -0-01 to 103-04 Gn 6.0-> -0-02 to 102-28 Since the UST5Y Auction here is how TSY Yields have performed. As expected, the massive supply of US Gov. debt weighed on the Auction. Bid to cover 1.98 2yr: 0.93 (+0.02) 3 yr: 1.30 (+0.03) 5yr : 1.77 (+0.05) 10yr
  • MBS UPDATE: Prices Pre-UST5Y Auction

    by Adam Quinones on January 29 2009, 1:00 PM

    CURRENT- Pre 5YR Treasury Auction Fn 4.0-> -0-08 to 99-22 Fn 4.5-> -0-06 to 101-00 Gn 4.5-> -0-06 to 101-01 Fn 5.0-> -0-04 to 101-28 Gn 5.0-> -0-04 to 102-03 Fn 5.5-> -0-03 to 102-16 Gn 5.5-> -0-03 to 102-18 Fn 6.0-> +0-00 to 103-06 Gn 6.0-> +0-00 to 102-30 TSY Yields 2yr: 0.91 3 yr: 1.27 5yr : 1.72 10yr: 2.72 30yr: 3.49
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