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  • 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...
  • Tuesday 12/30...Breaking News

    by Victor Burek on December 30 2008, 3:58 PM
    The time frame for the Fed to start purchasing mbs is announced and will start in early January. On that new, mbs have skyrocketed higher regaining all of the loses from today and are currently up on the day. Float club is still in session. We are getting...
  • Tuesday 12/30…Ugly Start to the Day

    by Victor Burek on December 30 2008, 10:39 AM
    Mortgage backed securities are having a very ugly start to the day. Yesterday, mbs rallied early then sold off to close about where they opened but it appears the downward pressure will continue today. No real cause for the selling other then very light...
  • Monday 12/29…Another Shortened Holiday Week

    by Victor Burek on December 29 2008, 8:30 AM
    So far this morning, mortgage backed securities are continuing their winning ways and are higher on the day. Remember, as the price of mbs moves higher, the yield or mortgage rates, moves lower. This week is very light on data and is shortened due to...
  • Friday 12/26…Should be a Slow Day

    by Victor Burek on December 26 2008, 8:42 AM
    Mortgage backed securities opened basically where they closed on Wednesday. There are no economic reports to be released today and we should see a very low volume of trades. I do not suspect that we will have a rally or a big sell off, much more likely...
  • Wednesday 12/24...End of Day Update

    by Victor Burek on December 24 2008, 1:14 PM
    We had a little Christmas Eve rally, with the current mortgage backed security closing 7 ticks higher. Merry Christmas, be back on Friday.
  • Wednesday 12/24…Tons of Economic Data

    by Victor Burek on December 24 2008, 8:26 AM
    So far this morning, mortgage backed securities are up on the day following yesterdays gains. The volume continues to be very light so any large trades can have a bigger impact on overall pricing for the day. The market closes early at 2pm eastern and...
  • Tuesday 12/23 ...MBS move Higher

    by Victor Burek on December 23 2008, 3:21 PM
    Thought i would give everyone a quick update. Our favorite mbs coupon, the 4.5, has moderately improved today. Since close yesterday, we are up 7 ticks. Some lenders repriced for the better today. Still a very low volume day. Tomorrow the bond market...
  • Tuesday 12/23…Final GDP for 3rd Quarter

    by Victor Burek on December 23 2008, 8:04 AM
    We just got the release of the final 3 rd quarter gross domestic product and the number came in right where expected at -0.5%. No reaction from the bond market or stock market on the release. Yesterday was a rough day to be a mortgage backed security...
  • Monday 12/22…Christmas Week

    by Victor Burek on December 22 2008, 8:20 AM
    Due to the Christmas holiday’s, we have a shortened trading week yet it is full of economic data. Today we do not get the release of any economic reports. Tuesday - Final GDP, economists are expecting a -0.5% after last months -0.5% - Existing Home...
  • Should you Pay Closing Costs?

    by Victor Burek on December 20 2008, 1:28 PM
    I thought I would write a weekend blog regarding closing costs. We are heading into a refinance boom so many readers are going to be refinancing and many readers are going to ask, should I or should I not pay closing costs? It does not matter what lender...
  • 12/18...MBS Rebound

    by Victor Burek on December 19 2008, 12:31 PM
    Nothing to get overly excited about, but mortgage backed securities have managed to rebound. We have made back all the loses and are currently up 3 ticks on the day.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.02%
  • |
  • 15 Yr FRM 2.48%
  • |
  • Jumbo 30 Year Fixed 3.35%
MBS Prices:
  • 30YR FNMA 4.5 107-29 (0-00)
  • |
  • 30YR FNMA 5.0 109-18 (0-00)
  • |
  • 30YR FNMA 5.5 110-16 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.56%
  • |
  • Refinance Index 8.23%
  • |
  • Purchase Index -1.53%