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  • Thursday 1/15… Economic Data is In

    by Victor Burek on January 15 2009, 9:36 AM
    We got the release today of several economic reports. First of all we got jobless claims, economists where expecting 500k, but the number came is worse at 524k. If you can recall, higher unemployment leads to less wage based inflation which is a positive...
  • Wednesday 1/14…Disappointing Retail Sales

    by Victor Burek on January 14 2009, 8:08 AM
    Yesterday was a sleeper of a day for mortgage backed securities, again. We closed at the same level we opened like we did on Monday. We had a few instances of a sell off, but each time the Federal Reserve jumps in to bring the price back up. As the price...
  • Tuesday 1/13…MBS Move Sideways

    by Victor Burek on January 13 2009, 8:05 AM
    Yesterday was a pretty boring day for mortgage backed securities. We closed right where we opened the day with a few peaks and valleys along the way. With the Federal Reserve checkbook(remember they have promised to spend up to $500billion on mbs), each...
  • Monday 1/12…The Week Ahead

    by Victor Burek on January 12 2009, 8:27 AM
    The week starts out with no economic reports but we do get many reports mid and end of week. Wednesday - Import Prices ex-oil, last months reading came in at -1.8%. For lower mortgage rates we want this report to come in lower as lower import prices leads...
  • Friday 1/9…Unemployment Jumps Higher

    by Victor Burek on January 09 2009, 9:01 AM
    This morning we got the release of the official jobs numbers from the Bureau of Labor Statistics. Decembers non farm payrolls showed a loss of 524k jobs when economists where expecting a 500k loss. In addition, November’s payrolls were adjusted...
  • Thursday 1/8…Jobless Claims In

    by Victor Burek on January 08 2009, 8:17 AM
    Jobless claims report was released with first time filers coming in at 467k. Economists where expecting a much higher number of 550k. The 4 week moving average also came in slightly better at 525k but the continuing claims came in higher at 4.61million...
  • Wednesday 1/7…Will the Rally Continue

    by Victor Burek on January 07 2009, 8:12 AM
    Yesterday, mortgage backed securities went on quite a rally improving right at 100 basis points. On a day like that you would normally see many reprices from lenders lowering their rates, but we saw very few and some lenders even repriced for the worse...
  • Tuesday 1/6...What a Rally

    by Victor Burek on January 06 2009, 4:49 PM
    Mortgage backed securities rallied big time today up a full point. Even though price improved on mbs, we still had a few lenders reprice to the worse. The main cause for this is to control the pipeline. Rates should be much better then they are now, and...
  • Tuesday 1/6…Economic Data is In

    by Victor Burek on January 06 2009, 11:36 AM
    We just got the release of all the economic data for the day. First we got the release of pending home sales which dropped 4% to 82.3 when economists where expecting 88.0. This is bad news for housing, but keep in mind not many people are buying or selling...
  • Tuesday 1/6...MBS Open Higher

    by Victor Burek on January 06 2009, 8:00 AM
    We are getting the release of some economic data in an hour, so i will post back after that. Currently mortgage backed securities continue their trend higher and are up 8 ticks on the day. We should see better rate sheets this morning.
  • Monday 1/5…Fed Has Started to Buy

    by Victor Burek on January 05 2009, 9:31 AM
    In breaking news, the Fed has started its MBS buying. Details of how much they are buying will be released weekly. Currently mbs are up 9 ticks on the day but off the highs of up 16 ticks. Construction spending came in at -.6% vs expectations of -1.2...
  • Monday 1/5…The Week Ahead

    by Victor Burek on January 05 2009, 7:19 AM
    The upcoming week is full with economic reports, with the biggest impacting reports coming on Friday. Monday - Construction Spending, economists expecting a -1.2% drop after last months -1.2%. Tuesday - Factory Orders, economists expecting a -2.6% drop...
  • Friday 1/2…It’s 2009!!!!

    by Victor Burek on January 02 2009, 8:26 AM
    Happy New Year!!!! The mortgage backed security market is open today for a normal trading day. So far this morning, mbs are up, recouping all of the loses from Wednesday. We do get the release of one piece of economic date, the ISM index. This report...
  • Thursday 1/1...Happy New Year!!

    by Victor Burek on January 01 2009, 8:41 AM
    I hope everyone had a wonder New Years Eve. I for one am glad to be putting 2008 in the rear view mirror, and I am excited and looking forward to 2009. Markets closed today but will be open for normal trading hours tomorrow. The only report we get tomorrow...
  • Wednesday 12/31…Jobless Claims In

    by Victor Burek on December 31 2008, 7:57 AM
    This morning jobless claims came in much better then expected. Economists where expecting 550k, but the number came in considerably better at 492k. The 4 week average fell as well to 552k, but continuing claims came in higher at 4.5 million. Normally...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.55%
  • |
  • 15 Yr FRM 3.91%
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  • Jumbo 30 Year Fixed 4.57%
MBS Prices:
  • 30YR FNMA 4.5 104-17 (-0-01)
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  • 30YR FNMA 5.0 106-23 (0-02)
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  • 30YR FNMA 5.5 108-20 (0-02)
Recent Housing Data:
  • Mortgage Apps -1.15%
  • |
  • Refinance Index -2.64%
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  • Purchase Index 5.06%