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If you've had time for a quick check of MBS prices, you're already aware of the rally. Bond markets have been mostly rallying all morning as stocks have been selling. At first blush, that might seem like it's due to the much-weaker-than-expected Consumer Confidence readings, and while that not doubt...
Posted to
MBS Commentary
by
Matthew Graham
on
Tue, Oct 25 2011
Filed under:
Filed under: mbs, S&P, technical analysis, consumer confidence, Economic Calendar, treasuries, EU Summit, Commentary, Live MBS Data, Live Pricing
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Treasuries are rebounding from Monday's losses and the equity rally looks a bit overdone, at least until investors have a chance to look at this morning's home price and consumer confidence data. The two-year Treasury yield is flat at 0.20%, the 10-year yield is five basis points firmer at 2.21%, and...
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The National Association of Realtors released the Pending Home Sales Index for December today. The Pending Home Sales index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until...
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The National Association of Realtors released the Pending Home Sales Index for November today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
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S&P/Case-Shiller home price data and Consumer Confidence were both bond market friendly this morning. Yet the bond market did not react logically to the news. The 20 city home price index fell 1.3% vs. calls for a 0.6% MoM decline vs. the previous read of -0.8%. YoY the 20 city index was down 0.8...
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The National Association of Realtors released the Pending Home Sales Index for October today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
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The National Association of Realtors released the Pending Home Sales Index for September today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sales contracts are closed, they are considered an Existing Home...
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Mortgage rates moved a few basis points higher for the second day in a row yesterday after several lenders were forced to reprice for the worse. The culprit was a modest stock market rally which led investors to sell their "flight to safety" positions. A flight to safety happens when investors...
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Mortgage rates yesterday recovered the rate sheet losses lenders passed along to consumers last Friday. The was no specific reason for the modest improvement. Economic data was absent and trading activity was slow. For the most part, lenders were able to share small gains because mortgage-backed security...
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Mortgage rates made marginal improvements in a slow trading environment yesterday. After some morning volatility, both Treasury yields and mortgage-backed security prices held to a tight range for the rest of the day. All lenders left rate sheets unchanged on the day. At 9:00am, S&P released the...
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Lenders improved mortgage loan pricing by a few basis points early on yesterday, this helped mortgage rates end a three day losing streak. Although mortgage-backed securities prices improved throughout the course of the day, they did not rise enough in price to allow lenders to pass along another round...
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There isn’t too much to report from yesterday. After a weak open, prices of mortgage backed securities moved sideways before eventually closing the day where they began. While there were no reports of lenders repricing for the worse, mortgage rates did move higher compared to last Friday's...
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Since opening at the best levels seen since early December, the rates market has lost all progress and is now trading close to where we went out yesterday afternoon. Besides being weighed down by the $44 billion 2 year note auction, the stock lever has also exerted pressure on interest rates. In the...
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Mortgage rates continued to tick higher yesterday as benchmark Treasury yields rose and prices of mortgage backed securities fell for the sixth consecutive session. Most of the losses occurred early in the day, so price weakness was already accounted for on lender rate sheets when theywere issued. The...
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While day trading occupied the minds of fixed income market participants yesterday, prices of mortgage backed securities managed to tick higher, despite considerable gains in stocks. Rates moved higher in the opening hours of the session, however as losses were recovered later in the day, several lenders...