MBS Live: MBS RECAP
Open MBS Live Dashboard
FNMA 3.5
101-22 : -0-05
FNMA 4.0
103-29 : -0-02
FNMA 4.5
105-16 : +0-01
FNMA 5.0
107-08 : +0-01
GNMA 3.5
103-16 : -0-05
GNMA 4.0
106-13 : -0-02
GNMA 4.5
108-14 : +0-00
GNMA 5.0
109-30 : +0-02
FHLMC 3.5
101-14 : -0-05
FHLMC 4.0
103-22 : -0-02
FHLMC 4.5
105-01 : +0-01
FHLMC 5.0
106-19 : +0-01
Pricing as of 4:02 PM EST
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
3:11PM  :  ALERT: Ridiculously Resilient Support From 101-19 in Fannie 3.5's
So... Hopefully us pointing this out doesn't "jinx" it in any way, but how 'bout that 101-19!? For those of you not in front of the computer at the moment, the flat line at 101-19 that's been on the Fannie 3.5 chart for most of the day continued to offer firm support all the way to the 3pm close.

Treasuries held under their 2 day high yields as well in the 10 and 30yr maturities. 7's and under were higher vs yesterday although did show some support at the afternoon highs.

We take little joy in this, but all in all, today has pretty much been "as expected," with a persistent weakness across both markets since the morning hours. Take a look at the most recent blog post linked below to see how stocks and bonds have diverged today.

But there is some more joy in considering we're likely out of the woods for reprice risk having crossed that 3pm mark above the support level. We'd set an automatic alert somewhere around 101-17 depending the lender to guard against any late day weakness and call it a day on the lock/float watch (for those inclined to float into the weekend).
11:46AM  :  FHA Loan Limits Extended as President Obama Signs HR 2112
Statement by the Press Secretary on H.R. 2112

H.R. 2112, the “Consolidated and Further Continuing Appropriations Act, 2012,” provides FY 2012 full-year appropriations through September 30, 2012, for the Departments of Agriculture, Commerce, Health and Human Services', Food and Drug Administration, Housing and Urban Development, Justice, Transportation; the National Aeronautics and Space Administration, the National Science Foundation, and other small agencies. In addition, it provides for continuing FY 2012 appropriations through December 16, 2011, for the remaining projects and activities of the Federal Government.
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Matthew Graham  :  ""The new legislation also sets an annual fee for loans guaranteed by Freddie Mac and Fannie Mae. This fee is in the amount of 15 basis points on the outstanding principal balance of the loan and is "independent of any guarantee fees upfront on ongoing, charged to the borrower, and the premium loan fee shall not be affected by changes in guarantee fees." The fee, according to the bill, is expected to achieve an annual income of $300 million in revenue which "shall be used to pay for costs associa"
BVG  :  "Not sure if this was posted earlier- if so lemme know and I'll delete:The Federal Reserve System invites you to join a webcast on Consumer Compliance Hot Topics - 2011 Year in Review/2012 Year in the Making. This “Outlook Live” Webinar will take place Thursday, December 15, 2011 from 11:00am – 12:00pm Pacific time (2:00pm – 3:00pm Eastern). This webinar is part of an ongoing series focused specifically on consumer compliance issues. To register for the FREE webinar, please visit the Outlook "
Jay McCanless  :  "What's the amount of the new fee on GSE mortgages added in with the loan limit bill?"
Steve Chizmadia  :  "That is a very good point BB"
Brent Borcherding  :  "I'd disagree, SC. Private money is not going to come back for low down payment low credit score, higher dti borrowers...it will for the more qualified, however."
Steve Chizmadia  :  "I know BB, but I just think they got it wrong. If they were going to extend one and not the other, I feel it should have been the other way around"
Brent Borcherding  :  "Why would private money come back in play when gov't is there...remember what happened to treasury yields with QE2?"
Steve Chizmadia  :  "When competative private money is back in play"
Brent Borcherding  :  "I'm poking just to poke, SC, but when should they officially lower the HB conforming limits."
Matthew Graham  :  "now hearing that there's a think tank report out saying ECB may remove their recently discussed upper limit on bond-buying. nothing concrete yet"