MBS Live: MBS RECAP
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FNMA 3.5
103-30 : +0-02
FNMA 4.0
105-23 : +0-01
FNMA 4.5
106-29 : +0-02
FNMA 5.0
108-01 : +0-02
GNMA 3.5
105-08 : +0-01
GNMA 4.0
107-27 : +0-01
GNMA 4.5
109-06 : +0-00
GNMA 5.0
110-28 : +0-03
FHLMC 3.5
103-23 : +0-01
FHLMC 4.0
105-12 : -0-02
FHLMC 4.5
106-12 : +0-01
FHLMC 5.0
107-19 : +0-01
Pricing as of 4:04 PM EST
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard.
1:29PM  :  ALERT: Positive Reprices Not Out of The Question. MBS Test New Highs
Although it doesn't look like Fannie 3.5's will add more than a tick or two onto the all time high levels that have provided such a firm ceiling for the past 3 sessions, new highs are new highs. And of course, these are all-time highs. But could it seem any less exciting? Things feel very bland and boring considering the records being broken.

There's something of a default supportive bid for MBS at the moment relative to Treasuries, with the former up a few ticks on the day vs the latter down almost half a point , bringing yields up 5bps in 10yr notes. Granted, that benchmark environment isn't the most confidence-inspiring, but with Fannie 3.5's getting close to the 104-00 mark, a few lenders might reprice for the better just the same. Keep in mind that the range is quite narrow, so don't expect much, and weigh those expectations against where this morning's rate sheet landed versus yesterday afternoon's.

Bottom line, until further notice, if we were planning on locking today, we'd be holding off until cut-off or until Fannie 3.5's broke below, say 103-26.
11:59AM  :  MBA Reacts to President Obama's Housing Announcement
David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), today issued the following statement reacting to the housing plan outlined by President Obama in a speech in Virginia today.

"In his speech, President Obama offered more details on programs designed to help borrowers and our struggling housing market, including a 'homeowner bill of rights.' MBA agrees that a single national set of standards can help provide confidence and certainty in the real estate market for borrowers, lenders and servicers alike.

"I want to commend the administration for recognizing that more can be done get our housing market on track. The programs announced today will give lenders and other stakeholders additional tools to help borrowers and foster a renewed confidence in our real estate finance system."
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBS Live Dashboard.
Gaius Rossini  :  "yes, definitely positive, just wondering if it mattered"
Victor Burek  :  "so that should be positive"
Ira Selwin  :  "basically they want to remove streamlines from this calculation, so it wouldnt count against a lender"
Ira Selwin  :  "Yes"
Andrew Horowitz  :  "isn't compare ratio your default ratio with HUD?"
Ira Selwin  :  "Basically wanting to remove streamline refi from the compare ratio calculation ?"
Matthew Graham  :  "lol"
Victor Burek  :  "i havent had time to read it over"
Gaius Rossini  :  "hey all - anyone have any thoughts on these compare ratios that was mentioned in obama-refi?"
Matthew Graham  :  "RTRS - HUD SECRETARY SHAUN DONOVAN SAID SETTLEMENT ON FORECLOSURE FRAUD WITH SERVICERS IS GOING TO BE FINALIZED IN COMING DAYS, STATES ARE MAKING DECISIONS RIGHT NOW "
Steve Chizmadia  :  "Bay Equity better"
Jeff Anderson  :  "Thinking today is probably a good day to lock."
Steven Stone  :  "ok this is crazy..how can prices be this high"