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  • 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...
  • Monday 2/2… The Week in Review

    by Victor Burek on February 02 2009, 8:32 AM
    This week is action packed with economic reports with the biggest impacting reports coming Friday. Monday - Personal Income and Spending, economists expecting a -0.4% and -0.9% respectively. The actual number came in at a -.2% drop but the consumer spending...
  • Friday 1/30…TGIF

    by Victor Burek on January 30 2009, 10:35 AM
    After yesterday, so glad that Friday is here. Mortgage backed securities got rather beat up but not nearly as badly as US treasuries. We will see worse rate sheets this morning by about .125 to .25% when comparing them to opening rate sheets yesterday...
  • Thursday 1/29…Jobless Claims at all Time High

    by Victor Burek on January 29 2009, 8:47 AM
    Today we got the release of 2 key economic reports and they both are disappointing for the economy. First, jobless claims, economists where expecting 580,000 but number came in at 588,000. Continuing claims are at all time record levels at 4.76 million...
  • Wednesday 1/28…Fed Meeting Today

    by Victor Burek on January 28 2009, 9:07 AM
    Yesterday mortgage backed securities, the investment instrument that sets mortgage rates, managed to squeeze out a slight gain. We have been treading sideways for some time, so it was nice to see a positive day. We managed to close higher by about .25...
  • Tuesday 1/27…Sideways Movement Continues

    by Victor Burek on January 27 2009, 10:40 AM
    Yesterday, mortgage backed securities basically closed where they opened and it appears that trend will continue today. Also, yesterday we got the release of existing home sales . Economists were expecting an annual pace of 4.45m but the number came in...
  • Monday 1/26…Week Ahead

    by Victor Burek on January 26 2009, 8:59 AM
    This week is full of economic data that can and has moved the markets. Monday -Existing home sales, economists expecting 4.45m -Leading indicators, economists expecting a -0.1% reading. This report is composed of 10 indicators which are designed to forecast...
  • Friday 1/23…No Data Today

    by Victor Burek on January 23 2009, 8:59 AM
    Today we get no economic data that will move the markets. Yesterday, mortgage backed securities closed slightly higher and so far this morning we are holding onto those gains. Yesterday the Federal Reserve released their weekly numbers on the Fed mbs...
  • Thursday 1/22…Economic Data is In

    by Victor Burek on January 22 2009, 10:30 AM
    After a slight sell off yesterday of mortgage backed securities, today we have opened in positive territory after weak economic data was released. First, we got the release of the weekly jobless numbers which showed that 589,000 people filed for unemployment...
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More From MND

Mortgage Rates:
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  • 15 Yr FRM 2.62%
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  • Jumbo 30 Year Fixed 3.35%
MBS Prices:
  • 30YR FNMA 4.5 108-04 (-0-01)
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  • 30YR FNMA 5.0 109-17 (0-00)
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  • 30YR FNMA 5.5 110-13 (-0-08)
Recent Housing Data:
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  • Refinance Index 8.83%
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  • Purchase Index 3.42%