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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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  • MBS WEEKLY: SHREDDING UW REGS

    Comments (3)
    by Adam Quinones on February 27 2009, 6:27 PM
    For the week... FN30 _____________________________________ FN 4.0 -------->>>> - 0-30 to 98-11 from 99-09 FN 4.5 -------->>>> -0-25 to 100-05 from 100-30 FN 5.0 -------->>>> - 0-10 to 101-22 from 102-00 FN 5.5 -------->>>> -0-03 to 102-13 from 102-16 FN 6.0 -------->>>> + 0-06 to 103-09 from 103-03 For an update on how rate sheets and mortgage rates changed this week...read the Mortgage Rate Watch Blog <--link Hello everyone....say hi
    Read More

  • MBS ALERT: SELLING OFF

    Comments (35)
    by Adam Quinones on February 27 2009, 12:34 PM
    TSY yields are on the rise...MBS is selling off a few ticks. Possible Reprice for the worse on the horizon
    Read More

  • MBS UPDATE: HIGH FIVE VIC

    Comments (9)
    by Adam Quinones on February 27 2009, 12:02 PM
    Good Morning Everyone...Happy Friday. TSYs are selling off on the wings of the curve and rallying through the belly. Today is the last trading day of the month so some MBS market participants will be making duration adjustments to their fixed income portfolios. Currently the bias is still up in coupon with some market participants nibbling on lesser coupons. MBS selloffs in the short end of the stack will hopefully attract bargain buyers (come on negative convexity). But then again the short term
    Read More

  • MBS OPEN: PRICE UPDATE AND A DOWNGRADE

    Comments (29)
    by Adam Quinones on February 27 2009, 8:19 AM
    At the open... FN30 _____________________________________ FN 4.0 -------->>>> - 0-02 to 98-09 from 98-11 FN 4.5 -------->>>> +0-01 to 100-12 from 100-11 FN 5.0 -------->>>> +0-02 to 101-26 from 101-24 FN 5.5 -------->>>> +0-01 to 102-15 from 102-14 FN 6.0 -------->>>> + 0-00 to 103-09 from 103-09 GN30 ______________________________________ GN 4.0 -------->>>> +0-04 to 98-17 from 98-13 GN 4.5 -------->>>> + 0-01 to
    Read More

  • MBS CLOSE: TEARING APART LLPAs

    Comments (13)
    by Adam Quinones on February 26 2009, 7:34 PM
    Hi. From an interested bystanders perspective MBS trading was quite boring and uneventful today. sideways open. stable morning. slow lunch. steady close.....felt like a stalemate after yesterday. 3pm Closing Marks... FN30 _____________________________________ FN 4.0 -------->>>> + 0-02 to 98-11 from 98-09 FN 4.5 -------->>>> +0-00 to 100-11 from 100-11 FN 5.0 -------->>>> +0-01 to 101-24 from 101-23 FN 5.5 -------->>>> +0-02 to 102-14 from 102-12 FN
    Read More

  • MBS UPDATE: FED BUYS $24.999BN

    Comments (16)
    by Adam Quinones on February 26 2009, 3:22 PM
    ....of the $24.999BN.... 65% was used to purchase 4.5 MBS. The Federal Reserve averaged $4.99bn purchases per day in the five day reporting period. This brings total Fed purchases to $160.33bn ...32% of the allocated $500bn MBS still stable/SLIGHTLY better...
    Read More

  • MBS UPDATE: HOOO-HUUUUUUUM

    Comments (0)
    by Adam Quinones on February 26 2009, 2:45 PM
    MBS still not moving.... Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a net loss of $26.2 billion in the fourth quarter of 2008, a decline of $27.8 billion from the $575 million that the industry earned in the fourth quarter of 2007 and the first quarterly loss since 1990 More than two-thirds of all insured institutions were profitable in the fourth quarter, but their earnings were outweighed by large losses at a number of big banks
    Read More

  • MBS CORRECTION: WOOPS!

    Comments (6)
    by Adam Quinones on February 26 2009, 2:16 PM
    YIKES!!! I posted the wrong press release on the last blog. I was wondering why there was so much overseas participation in two consecutive auctions!!! Indirect Bid: 39% (that's still above average) I just posted on the comments of another blog that I would be doing some profit taking today. MBS is stable for now but be weary of after hours selling. Stock markets have been fidgety late in the day..
    Read More

  • MBS UPDATE: RANGE BOUND

    Comments (6)
    by Adam Quinones on February 26 2009, 1:03 PM
    Whoa...time flies when youre having fun! I got totally sucked into Barack's Budget. CLICK ON ME to read it The stack has been sideways all day...not much movement either way. Up in coupon remains the bias...pretty boring day thus far for MBS FN30 ______________________________________ FN 4.5 -------->>>> -0-02 to 100-09 from 100-11 FN 5.0 -------->>>> -0-01 to 101-22 from 101-23 FN 5.5 -------->>>> +0-00 to 102-12 from 102-12 FN 6.0 -------->>>>
    Read More

  • MBS ECON: NO FUNDAMENTALS

    Comments (28)
    by Adam Quinones on February 26 2009, 10:18 AM
    The MBS stack is flat. Financial stocks are leading equity indexes higher this morning. Morning Econ...dont get too caught up on the fundamental effects of economic data on MBS right now. We already know the economy is bad. What we dont know is how effective the Obama Administration's Housing Plan and Stimulus package will be in slowing the pace of economic contraction. If you're in a good mood right now you should stop reading here...the data is crappy Durable Goods Orders (UGH) Press Release
    Read More

  • MBS OPEN: PRICE UPDATE

    Comments (10)
    by Adam Quinones on February 26 2009, 8:21 AM
    Opening Marks... FN30 ______________________________________ FN 4.5 -------->>>> -0-04 to 100-07 from 100-11 FN 5.0 -------->>>> -0-03 to 101-20 from 101-23 FN 5.5 -------->>>> -0-01 to 102-11 from 102-12 FN 6.0 -------->>>> - 0-02 to 103-05 from 103-07
    Read More

  • MBS CLOSE: WHY DID MBS SELL OFF TODAY???

    Comments (12)
    by Adam Quinones on February 25 2009, 6:08 PM
    Closing marks as of 3pm close yesterday... FN30 ______________________________________ FN 4.0 -------->>>> -0-24 to 98-09 from 99-02 FN 4.5 -------->>>> -0-14 to 100-11 from 100-25 FN 5.0 -------->>>> -0-07 to 101-23 from 101-30 FN 5.5 -------->>>> -0-03 to 102-12 from 102-15 FN 6.0 -------->>>> +0-01 to 103-07 from 103-06 Ok so I know its been awhile since I gave you GNs. I will only provide on end of day post. During the day FNs,GNs, and
    Read More

  • MBS ALERT: STILL SELLING

    Comments (37)
    by Adam Quinones on February 25 2009, 3:09 PM
    The Dow continues to rally and TSY positions continue to unwind. If you didnt recieve reprice already.... it is coming
    Read More

  • MBS UPDATE: CHASING FULLER COUPONS

    Comments (1)
    by Adam Quinones on February 25 2009, 1:18 PM
    UP IN COUPON!!! MBS is following the yield curve steeper. I have noticed some larger than average reprices for the worse occurring...mutter mutter FN30 ______________________________________ FN 4.5 -------->>>> -0-06 to 100-19 from 100-25 FN 5.0 -------->>>> -0-02 to 101-28 from 101-30 FN 5.5 -------->>>> +0-00 to 102-15 from 102-15 FN 6.0 -------->>>> +0-03 to 103-09 from 103-06 The Treasury Auction saw decent demand. Bid to cover: 2.21. Indirect bidders
    Read More

  • MBS MORNING: FEARS COMING TO FRUITION

    Comments (21)
    by Adam Quinones on February 25 2009, 11:16 AM
    I am not going to sugar coat it for you this morning....my fears are coming to fruition. MBS market participants are once again chasing profits in higher yielding mortgage coupons. This signals a clear disregard for prepayment risk and gives me an unsettling feeling. Remember : a borrowers option/ability to refinance their mortgage into a lower rate is the most threatening risk faced by an MBS investor. Well....yesterday the "up in coupon-ers" (that affixed a precarious premium in your
    Read More
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