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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 CLOSE: PREPARING OURSELVES

    Comments (6)
    by Adam Quinones on March 31 2009, 7:01 PM
    3pm Closing Marks.... FN30 _______________________________ FN 4.0 -------->>>> +0-00 to 100-17 from 100-17 FN 4.5 -------->>>> +0-01 to 102-04 from 102-03 FN 5.0 -------->>>> +0-02 to 103-05 from 103-03 FN 5.5 -------->>>> +0-03 to 103-25 from 103-22 FN 6.0 -------->>>> + 0-01 to 104-14 from 104-13 GN30 __ _______________________________ GN 4.0 -------->>>> + 0-03 to 100-20 from 100-17 GN 4.5 -------->>>> +0-02 to
    Read More

  • MBS UPDATE: Consolidated and Re-Testing

    Comments (3)
    by Adam Quinones on March 31 2009, 2:59 PM
    MBS has consolidated its gains and recovered from intraday lows. At these price levels one would expect originators to be making some delivery commitments (lock in loans), however month end/quarter end balance sheet positioning and the generally apathy that surrounds mortgage ops centers at month end is putting a hamper on any above average activity (primary and secondary markets). If originators attempt to dump off any supply of production coupons (the loans you close) the market will gladly take
    Read More

  • MBS ALERT Part 2: Potential Recovery

    Comments (2)
    by Matthew Graham on March 31 2009, 12:48 PM
    Choppy trading has been the norm, but this recovery may help mitigate reprice risk. No telling where we'll be five minutes from now though...
    Read More

  • MBS ALERT: Flirting with Lows Of The Day

    Comments (0)
    by Matthew Graham on March 31 2009, 12:42 PM
    tsy's and mbs both under pressure at the moment. Not the lows of the day, but certainly lows of recent range. There is a moderate risk that this will prompt some lenders to reprice for the worse.
    Read More

  • MBS LUNCH: OVERHEAD RESISTANCE

    Comments (0)
    by Adam Quinones on March 31 2009, 11:59 AM
    MBS has given way to short term technical resistance. The stack was unable to crest yesterday's intraday price highs after profit takers emerged when MBS prices were deemed too expensive (in dollar terms) Change Since 3pm Closing Marks... FN30 _______________________________ FN 4.0 -------->>>> -0-02 to 100-15 from 100-17 FN 4.5 -------->>>> -0-01 to 102-02 from 102-03 FN 5.0 -------->>>> +0-00 to 103-03 from 103-03 FN 5.5 -------->>>> +0-00 to
    Read More

  • MBS MORNING: Month End for Mortgage World

    Comments (16)
    by Adam Quinones on March 31 2009, 10:35 AM
    The TBA MBS market is quiet as we close out the month and Q1 2009. It appears all positions have been taken and balance sheets adequately "dressed up" (prepared) for quarterly review. Change Since 3pm Closing Marks... FN30 _______________________________ FN 4.0 -------->>>> +0-00 to 100-17 from 100-17 FN 4.5 -------->>>> +0-01 to 102-04 from 102-03 FN 5.0 -------->>>> +0-03 to 103-06 from 103-03 FN 5.5 -------->>>> +0-03 to 103-25 from 103
    Read More

  • MBS OPEN: Generally Flat Early On

    Comments (0)
    by Adam Quinones on March 31 2009, 8:25 AM
    Good Morning rate watchers. After a pessimistic trading session yesterday, stock futures indicate that equity traders are poised to push prices higher at the open. MBS will be under selling pressure early in the session as TSY yields traded higher overnight after European markets found optimism that the economic crisis just might been near bottom. MBS spreads are tighter at the open.... Change Since 3pm Closing Marks... FN30 _______________________________ FN 4.0 -------->>>> -0-03 to
    Read More

  • MBS UPDATE: IMPROVED FROM FRIDAY

    Comments (9)
    by Adam Quinones on March 30 2009, 5:02 PM
    5pm Marks.... FN30 _______________________________ FN 4.0 -------->>>> +0-07 to 100-16 from 100-09 FN 4.5 -------->>>> +0-05 to 102-01 from 101-29 FN 5.0 -------->>>> +0-04 to 103-02 from 102-30 FN 5.5 -------->>>> +0-02 to 103-21 from 103-19 FN 6.0 -------->>>> + 0-05 to 104-14 from 104-09 GN30__ ________________________________ GN 4.0 -------->>>> + 0-08 to 100-20 from 100-12 GN 4.5 -------->>>> +0-08 to 102-07
    Read More

  • MBS UPDATE: 2pm Prices

    Comments (5)
    by Matthew Graham on March 30 2009, 2:07 PM
    We've gained a bit back. Treasuries are recovering as well which should provide some support. Here are intraday ticks FN30 _______________________________ FN 4.0 -------->>>> +0-08 to 100-17 from 100-09 FN 4.5 -------->>>> +0-04 to 102-00 from 101-29 FN 5.0 -------->>>> +0-03 to 103-01 from 102-30 FN 5.5 -------->>>> +0-03 to 103-22 from 103-19 FN 6.0 -------->>>> + 0-05 to 104-14 from 104-09
    Read More

  • MBS MORNING: Morning Gains Lost

    Comments (0)
    by Adam Quinones on March 30 2009, 12:17 PM
    The MBS coupon stack has been subjected to the sentiments of the TSY market this morning. Flight to quality helped push MBS prices higher early in the session, however quarter end balance sheet strengthening tactics have brought about fast money TSY traders looking to take profits while "the getting is good"...when TSY profit takers emerge you can count on some MBS selling...which is what we have seen thus far today. The MBS stack is however attempting to rebuild after a brief period of
    Filed under:
    Read More

  • MBS UPDATE: FIXED INCOME LOVING THE LEVER

    Comments (8)
    by Adam Quinones on March 30 2009, 9:42 AM
    MBS is benefiting from a general flight to quality as a generally foul feelings on trading floors has stocks around the world bleeding out optimism after several headline news (Geithner chatter, automaker BKs, and Spanish bank rescues) events combined with quarter end window dressing has sparked equity market sell offs...everywhere. FN30 ______________________________ FN 4.0 -------->>>> +0-12 to 100-21 from 100-09 FN 4.5 -------->>>> +0-08 to 102-05 from 101-29 FN 5.0 --
    Read More

  • MBS OPEN: Strengthening Early On

    Comments (2)
    by Adam Quinones on March 30 2009, 8:30 AM
    MBS opens strong as are spreads mixed and prices are moving higher... APRIL FN30 _____________________________ FN 4.0 -------->>>> +0-05 to 100-14 from 100-09 FN 4.5 -------->>>> +0-05 to 102-02 from 101-29 FN 5.0 -------->>>> +0-05 to 103-03 from 102-30 FN 5.5 -------->>>> +0-02 to 103-21 from 103-19 FN 6.0 -------->>>> + 0-03 to 104-12 from 104-09 APRIL GN30__ __________________________ GN 4.0 -------->>>> + 0-05 to 100-17
    Read More

  • MBS Weekly: Choppy Week Leaves MBS Slightly Better. Next Week Might Be OK Too!

    Comments (9)
    by Matthew Graham on March 27 2009, 5:52 PM
    Today was not a stellar conclusion for MBS as we fell back to more or less average levels for the week. Here is the entirety of today's action: As you can see, we ended more or less close to the lows of the day. Keep in mind that a lot of that weakness takes place on a Friday afternoon, which is traditionally rather illiquid, light in volume, and artificially choppy. In other words, don't read too much into the late weakness until it's confirmed or refuted on Monday. Plus, in the grand
    Read More

  • MBS UPDATE: After All That Commotion....

    Comments (0)
    by Adam Quinones on March 27 2009, 5:05 PM
    After all that mid-day commotion, caused by some post TSY auction/pre-weekend yield curve trade positioning, MBS closed flat on the day. Matt will be posting the end of week wrap.... APRIL FN30 _____________________________ FN 4.0 -------->>>> +0-01 to 100-09 from 100-08 FN 4.5 -------->>>> +0-01 to 101-29 from 101-28 FN 5.0 -------->>>> +0-01 to 102-30 from 102-29 FN 5.5 -------->>>> +0-01 to 103-20 from 103-19 FN 6.0 -------->>>> + 0-00
    Read More

  • MBS UPDATE: 45 Minutes Left To Official Close, Tsy's and MBS Stabilizing

    Comments (0)
    by Matthew Graham on March 27 2009, 2:15 PM
    Still in the green today, but just barely after stocks, tsy's, and MBS all sold off a bit just after 12:30PM EDT. Since then, tsy's reversed their losses around 130pm, stocks about 2pm. MBS traded with tsy's also bottoming just after 130pm, but have since recovered and are showing signs of stabilization. Some lenders may have repriced for the better, lagging from the day's earlier strength. Others may have repriced for the worse (laggards still might!). Here's the intraday chart
    Read More
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