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  • Tuesday 12/2 … No Data Today to Digest

    by Victor Burek on December 02 2008, 9:05 AM
    Today is the only day this week with no economic data to digest. Yesterday we did get the ISM index which came in below expectations at 36.2 and helped to spark a rally in mortgage backed securities. As the day moved along we did give back all the gains...
  • Monday 12/1 … Week to Come

    by Victor Burek on December 01 2008, 8:42 AM
    The week ahead is another action packed week of economic reports. Monday Construction spending, economists expecting a -0.9% drop. ISM Index, economists expecting a 38.0 reading. This report is a measure of the strength of our manufacturing segment of...
  • Friday 11/28 …Should be a Sleeper of a Day

    by Victor Burek on November 28 2008, 8:49 AM
    No economic reports will be released today and the bond market closes at 2pm est. Currently mortgage backed securities are down about 5 ticks from close on Wednesday in very low volume. Days like today are historically very low volume with most traders...
  • Wednesday 11/26 … Tons of data today

    by Victor Burek on November 26 2008, 9:26 AM
    Yesterday was a great day for mortgage rates and consumers as rates on mortgages dropped over .50% but later in the day they increased giving back some of the gains. This is good for the consumer as it will allow a lot of home owners to refinance into...
  • Tuesday 11/25 …Forget the Data

    by Victor Burek on November 25 2008, 8:02 AM
    Sorry for such a short post today. We are getting some economic data, but it doesn’t matter this morning. Just say hello to low rates. The government just announced a $500 billion purchase of mortgage backed securities. This news alone has caused...
  • Monday 11/24…Upcoming Week

    by Victor Burek on November 24 2008, 7:51 AM
    This week we get the release of many economic reports, even though this is a shortened week due to Thanksgiving. Before we get into the reports, we did get some big news on Sunday in the form of another government bailout of a banking institution. Citigroup...
  • Friday 11/21…The Volatility Continues

    by Victor Burek on November 21 2008, 9:11 AM
    There are no economic reports scheduled to be released today, so the mortgage backed security market will take it’s cues from headlines, the Dow, and treasuries. Currently our 5.5 mbs is down 7 ticks from close yesterday taking away all the gains...
  • Thursday 11/20… Economic Data is Out

    by Victor Burek on November 20 2008, 9:24 AM
    Mortgage backed securities are rallying this morning on weaker then expected economic data. Here are the numbers - <![endif]> Jobless Claims up 26,000 from last week to 542,000 much higher then expected - <![endif]> The continuing claims number...
  • Wednesday 11/19… Consumer Inflation Drops

    by Victor Burek on November 19 2008, 4:07 PM
    This morning we received economic data showing one of the largest drops month over month in consumer inflation. The Consumer Price Index fell by -1.0% and the core rate which strips out food and energy also fell -.01% with economists expecting a .01%...
  • Tuesday 11/18 …Data is in

    by Victor Burek on November 19 2008, 4:06 PM
    Today we got the release of inflation data in the form of the producer price index and they came with mixed results. The overall reading was much better then expected at a decline of 2.8% vs estimates of a 1.8% decline. This is a positive for mortgage...
  • Monday 11/17 … Weekly Update

    by Matthew Graham on November 17 2008, 10:02 AM
    This week is full of economic data that historically moves the mortgage backed security market. So far this morning, mbs are basically unchanged from close on Friday and appear to have found a small trading range with very little action. We are still...
  • Friday 11/14 … Retail Sales Numbers Are In…

    by Matthew Graham on November 14 2008, 9:51 AM
    This morning we got the release of the monthly retail sales figures and they were disappointing, but I am sure this isn't a shock to anyone. Economists were expecting a -2.1% drop but the actual number came in at -2.8%. When excluding auto sales,...
  • Thursday 11/13 … Economic Data In

    by Matthew Graham on November 13 2008, 9:15 AM
    This morning the labor department released jobless claims and it wasn't pretty. First time jobless claims rose from 484,000 last week to 516,000 which is well above economist's expectations of 482,000. The continuing claims came in at 3.9 million...
  • Wednesday 11/12 … Morning Update

    by Matthew Graham on November 12 2008, 9:45 AM
    The mortgage backed security market opened this morning in positive territory. We get no economic reports today but we will have another treasury auction of 10yr notes at 1pm est. The added supply of debt on the market could hinder any significant upside...
  • Tuesday 11/11 … Veteran's Day

    by Matthew Graham on November 11 2008, 8:49 AM
    We wish to pass on our most sincere thanks to all veterans of our great military, if not for you we would not have the freedoms we enjoy today. Today the bond markets are closed in honor of Veteran's Day and no economic reports will be released. Yesterday...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.95%
  • |
  • 15 Yr FRM 3.25%
  • |
  • Jumbo 30 Year Fixed 4.15%
MBS Prices:
  • 30YR FNMA 4.5 107-05 (0-01)
  • |
  • 30YR FNMA 5.0 108-28 (-0-01)
  • |
  • 30YR FNMA 5.5 110-22 (-0-02)
Recent Housing Data:
  • Mortgage Apps 3.27%
  • |
  • Refinance Index 5.05%
  • |
  • Purchase Index 1.43%