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  • 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...
  • Monday 11/10…Look at the Week Ahead

    by Matthew Graham on November 10 2008, 9:09 AM
    This week will be slow as far as economic reports. The only relevant reports will be released on Thursday and Friday. Thursday we will get the weekly release of jobless claims which are expected to show 480,000 claims and we also get the balance of trade...
  • Friday 11/7 … Jobs Reports are In

    by Matthew Graham on November 07 2008, 9:24 AM
    Today, the labor department released the jobs and unemployment numbers and they were disappointing. Economist's where expecting a loss of 200,000 jobs, but the numbers came in at a loss of 250,000 jobs. To make matters even worse, the prior 2 months...
  • Thursday 11/6 ... Jobless Claims in

    by Matthew Graham on November 06 2008, 10:25 AM
    Today we got the release of 2 economic reports and key interest rate cuts from across the pond. Jobless claims came in pretty much right on expectations at a 481,000 level after last months 478,000. Continuing claims still remain at the highest level...
  • Wednesday 11/5 ... Obama Wins Election

    by Matthew Graham on November 05 2008, 10:20 AM
    As most will know Obama has won the presidential election and will become our country's 44th President. Mortgage backed securities have been in rally mode. Yesterday in the face of a big stock market rally, mbs improved around 100 basis points, dropping...
  • Monday 11/3 ... Preview of Upcoming Week

    by Matthew Graham on November 03 2008, 8:54 AM
    This week brings us several big economic reports with the biggest ones being released on Friday. Today we get the release of 2 reports: 1. The ISM Index, which is a survey of purchasing managers and is seen as the best indicator of the condition of the...
  • Friday 10/31 ...Boo!!!!

    by Matthew Graham on October 31 2008, 10:13 AM
    Today brings us an action packed day for economic reports. So far this morning, mortgage backed securities are liking what they see and we are getting a good move up in price, thus lower in rates on mortgages. The day is still early and usually Friday's...
  • Thursday 10/30 ... Reports are In

    by Matthew Graham on October 30 2008, 9:25 AM
    Today brought us a couple economic reports. First the Gross Domestic product, economists where expecting a -.5% but the number came in stronger at -.3%. This is the first negative reading for GDP since quarter 4 of 2007. We also got the release of jobless...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.70%
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  • 15 Yr FRM 3.30%
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  • Jumbo 30 Year Fixed 3.78%
MBS Prices:
  • 30YR FNMA 4.5 105-22 (0-02)
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  • 30YR FNMA 5.0 106-30 (0-04)
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  • 30YR FNMA 5.5 107-25 (0-12)
Recent Housing Data:
  • Mortgage Apps -2.18%
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  • Refinance Index -7.75%
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  • Purchase Index 0%