MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Clayton Sandy — Thu, 02 Jul 2009 17:31:10 GMT

LOL. That's funny. Wells is showing 5.125% on the website, but fail to state it's for purchase money only.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Adam Janik — Thu, 02 Jul 2009 17:13:39 GMT

I have not really seen any reprices for the better yet. 10 yr keeps dropping though

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Rodney — Thu, 02 Jul 2009 17:09:20 GMT

Just got reprices for the better from FA & Freddie Direct, on top of this morning's gains. :)

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Chris S — Thu, 02 Jul 2009 17:02:17 GMT

just what is posted online. https://www.wellsfargo.com/mortgage/rates

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Clayton Sandy — Thu, 02 Jul 2009 16:56:20 GMT

Chris, Are you talking Wells Correspondent? Wells Wholesale and Retail have not repriced at all today.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Michael Cromwell — Thu, 02 Jul 2009 16:40:44 GMT

JC-I think rates will end up following the markets and take some guidance from the auctions; +/-. I'm locking 2 in the pipeline today and floating the rest into next week. They're priced right. If they were my deals and were tight, I'd probably be inclined to lock by the end of the day.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

JC Holmes — Thu, 02 Jul 2009 16:34:16 GMT

To lock or not to lock, that is the question. No seriously though, do you think its worth waiting for a possible reprice? What does Monday look like in terms of news? Or, should I be a smart conservative LO and lock everything?

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Adam Quinones — Thu, 02 Jul 2009 16:28:07 GMT

maybe a late day sell off Frank...TSY day traders took profits this AM....depends on stocks. The S&P is holding between 900-905...a short cover rally in stocks is quite possible as volume is steadily slowing as many traders will be done early today.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Michael Cromwell — Thu, 02 Jul 2009 16:17:40 GMT

Who needs an MBA when you have MND? I wonder what Obama's going to say. Kind of sensing a late day sell-off setting up positions for next week.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Frank Ceizyk — Thu, 02 Jul 2009 16:16:36 GMT

Adam--makes sense. In a nutshell with July 4th weekend we aren't likely to see any substantial movement beyond where we are until next week. Just glad that it wasn't a black Thursday--gonna be a quiet introspective weekend I'm thinking for the green shooters...

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Quyen TRan — Thu, 02 Jul 2009 16:14:15 GMT

Perhaps WF wants more people to lock? I just refi with Fremont bank and throughout the time I was watching the rates between WF and Fremont Bank, both seems to be pretty consistant. It is unusual though that WF rates dropped 1/8 and Fremont rates went up 1/8.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Adam Quinones — Thu, 02 Jul 2009 16:09:01 GMT

thats right Mike....stock lever should be wound tightly over the next few weeks. Summer slumber setting in over wall street.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Michael Cromwell — Thu, 02 Jul 2009 15:57:55 GMT

I'm w/ you there Bobby. I predict next week to be a good one. Unfortunately, I have 2 that have to be locked today. They'll be happy clients. Heading to the beach @3 for 4 days. Tarpon beware, my kid's on a mission. Have a safe & happy 4th! Adam-Good luck again and enjoy Italy. Beautiful place.

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Chris S — Thu, 02 Jul 2009 15:54:34 GMT

Makes sense, but tell me why Wells Fargo has two reprices for the lower today? Now at 5.125

re: MBS MORNING: Big Picture Unknowns Still Limiting MBS Gains

Bobby Downey — Thu, 02 Jul 2009 15:50:06 GMT

Looks like we are seeing some solid improvements on the 4.5 Fannie and Ginnie but I bet we won't see any reprices today...nobody wants to hang their you know what in the wind over the long weekend...hoping that Monday brings about some better rates....the job news should really put us on track for some positive gains.........but 3.5 seems to be the range we can't break...everybody have a good 4th of July....