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State Name: New Jersey
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  • Tuesday 2/17...Update as Promised

    by Victor Burek on February 17 2009, 4:33 PM
    Mortgage backed securities managed to move slowly higher throughout the day. This has resulted in most lenders repricing for the better by about .20 discount. This means mortgage rates improved slightly on the day. Hopefully, this rally will continue...
  • Tuesday 2/17…Positive Open for MBS

    by Victor Burek on February 17 2009, 9:29 AM
    Yesterday the markets where closed in observance of President’s Day. I hope everyone had a wonderful 3 day weekend. So far this morning, mortgage backed securities have opened higher. As mbs move higher in price, mortgage rates move lower in interest...
  • Monday 2/16…President’s Day, Markets Closed

    by Victor Burek on February 16 2009, 9:57 AM
    All US markets are closed today in observance of President’s Day. This week brings us many economic reports that have the potential of moving the markets. It seems lately that economic reports and market reaction have been somewhat disconnected;...
  • Friday 2/13...Just a Quick Update

    by Victor Burek on February 13 2009, 1:02 PM
    Mortgage backed securites took it on the chin today and have closed down about .25 worse in discount. I have already recieved a few reprices for the worse from some lenders. The main cause appears to be the sell off in treasuries which is increasing the...
  • Friday 2/13…It’s Friday the 13th!!!!

    by Victor Burek on February 13 2009, 11:33 AM
    Yesterday, mortgage backed securities lost a little ground. Lenders rate sheets this morning are anywhere from .25 to .50 worse in discount. This will keep par interest rates from 4.625 to 5%. It appears that the main cause of the loss yesterday was a...
  • Thursday 2/12…Jobless Claims Are Up Again

    by Victor Burek on February 12 2009, 9:18 AM
    Yesterday, mortgage backed securities managed to improve slightly on the day. We should see the same rate sheets today that we had yesterday. This will continue to put par interest rates anywhere from 4.625% to 5%, depending on the lender. Today we did...
  • Wednesday 2/11…Decent Rally Yesterday in MBS

    by Victor Burek on February 11 2009, 8:55 AM
    Yesterday mortgage backed securities managed to have a decent rally and closed higher by about .375% in discount. Many lenders repriced yesterday for the better and we should see better rate sheets this morning. I suspect par 30 year conventional fixed...
  • Tuesday 2/10…MBS Open Higher

    by Victor Burek on February 10 2009, 9:11 AM
    Yesterday mortgage backed securities managed to have a late day rally. Most lenders repriced for the better but they did not pass along all the improvements. We should see rate sheets better by .25 to .375% in discount making par 30 year fixed rate mortgages...
  • Monday 2/9...Mid Day Update

    by Victor Burek on February 09 2009, 12:00 PM
    MBS have managed to disconnect somewhat from treasuries today. Treasuries are selling off pretty well, with the 10 yr yield up to 3.05 but MBS are still unchanged on the day and at the same levels from close on Friday.
  • Monday 2/9…The Week Ahead

    by Victor Burek on February 09 2009, 9:44 AM
    This week brings us very little in the form of economic data. Wednesday - Trade Balance, economists expecting a -$37.0b after last months -$40.4b. This report measures the difference between imports and exports of goods and servieces. A negative number...
  • Friday 2/5...As Promised, an Update

    by Victor Burek on February 06 2009, 2:53 PM
    Mortgage backed securities have managed to claw their way back to where they closed yesterday. In the face of a booming stock market and a big treasury sell off, mbs held up great today!!!! We still have an hour or so of trading left and things can change...
  • Friday 2/6…Nonfarm Payrolls are Out

    by Victor Burek on February 06 2009, 9:32 AM
    We just got the release of non farm payrolls and the numbers were worse then expected. Economist’s where expecting around -550k, but the number came in at -598k. The unemployment rate was expected to come in at 7.5% but it also came in worse at...
  • Thursday 2/5…A Positive Open

    by Victor Burek on February 05 2009, 9:38 AM
    Yesterday mortgage backed securities traded sideways for most of the day, then had a little sell off late day to close just a little lower then where they opened. This morning, mbs have managed to crawl their way above yesterdays open and are slightly...
  • Wednesday 2/4…Is it the Weekend Yet?

    by Victor Burek on February 04 2009, 9:30 AM
    Yesterday mortgage backed securities sold off and have now given back all the gains from Monday. Lenders rate sheets should be worse by about .25 in discount which would put par interest rates anywhere from 4.75% to 5.375%. The only relevant piece of...
  • Tuesday 2/3…Light Day for Data

    by Victor Burek on February 03 2009, 10:17 AM
    Yesterday, mortgage backed securities had a small rally and managed to close positive on the day. Most lenders repriced for the better yesterday as a result. So far this morning, we've given back a little of what we gained yesterday, and I suspect...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.15%
  • |
  • 15 Yr FRM 3.48%
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  • Jumbo 30 Year Fixed 4.30%
MBS Prices:
Recent Housing Data:
  • Mortgage Apps 3.27%
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  • Refinance Index 5.05%
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  • Purchase Index 1.43%