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From MBS Commentary
MBS RECAP: Markets Offer No Sign of Pre-Yellen Tilt
MBS Day Ahead: Any Underlying Imbalances Will Surface Today
MBS RECAP: Data and Auction Pass Without Trace. Bring on Yellen
MBS Day Ahead: Why The First Reaction to Yellen Might Not Be...
MBS RECAP: Have You Heard The One About "The Range?"
Other Top Headlines
Cash Sales Retain Elevated Share of Market
Appraisal Trends; Fannie & Freddie - Never a Dull Moment
Mortgage Rates Still Sideways and That's Great!
Appraisal and Inventory Issues Complicate Existing Sales Numbers
New FEMA Proposal and Random Sample of Disaster Policies From...
How will the markets...
Is the Fed too erratic...
Fed's Kaplan: The...
Appraisal Issues Affecting Sales Numbers; New Loan App; Potentially Significant Price Trend Shift
The critical question unanswered here is whether there will be...
This is very informative.
Over $600,000,000,000 in outstanding MBS with coupons of 4% or...
Only a few times I am asked. Either right at the beginning -...
Not sure I would want a Doctor diagnosing my medical concerns...
Hi psuvp84.. Loan pricing, particularly for jumbo and investment...
Would it be wide to refi a rental property 30 yr fixed jumbo...
Have MLO license interpretations for prior felonies been challenged /re-defined less...
Do we qualify this year
How do I find the historical data for prices on Agency MBS?
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
MBS Commentary Home
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MBS MID-DAY: 3/2/2012
Mar 2 2012, 11:19AM
: MBS MID-DAY
Open MBS Live Dashboard
103-14 : +0-07
105-11 : +0-05
106-20 : +0-02
108-00 : +0-01
104-32 : +0-10
107-26 : +0-05
109-01 : +0-03
110-12 : +0-02
103-07 : +0-07
104-32 : +0-05
106-09 : +0-02
107-22 : +0-01
Pricing as of 11:04 AM EST
Morning Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the
MBS Live Dashboard
MBS and Treasuries Slightly Stronger Overnight. Quiet Session in Progress
Data, headlines, volatility, volume... All very quiet in the overnight session and into the first hour of the domestic session. MBS and Treasuries both improved on the "bounce back" gains seen yesterday afternoon, but are by no means guaranteed to continue improving today.
The frustrating thing about today's trading is that if volume stays on the current course, the actual fluctuations we see in price and yield won't necessarily the best indications of true market sentiment. As we said yesterday, we were left with the impression that the week was effectively over after yesterday morning's trade barring some significant and unexpected piece of news, most likely of the European variety.
Shifting to metaphor mode, bond markets have run their race for the week and will now do their best not to crash on the way back to the pits. For MBS, that means an attempt to hold onto 103-10 technical support today as a better-case-scenario, but we wouldn't be overly disheartened to end up slightly lower (especially considering yesterday's support level 103-00).
Technicals in Treasuries are a bit less clearly defined. Worst-case, we'd like to see 2.045 hold as a supportive ceiling, but would prefer a break below Thursday's highs at 1.998. Unfortunately, the first test of that pivot point saw yields bounce higher to their current levels around 2.01. Fannie 3.5 MBS are currently up 4 ticks on the day at 103-11.
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the
MBS Live Dashboard
"For anyone curious about the 2.014 discussion earlier or anyone who appreciates interesting technical eventualities, here's the post that explains more, particularly the last 3 paragraphs, and 2 charts: http://www.mortgagenewsdaily.com/mortgage_rates/blog/249615.aspx"
"& GMAC to GMAC"
"WF to WF"
"Anyone here know a lending doing VA IRRRLs with no appraisal and no AVM?"
"MBS Com post almost done"
"Ok ok MG...are you going to tell us? about 2.014"
"I'd guess a chance close to zero."
"i'd say no"
"Moring all! Is there any chance fannie or freddie will push back the 06/09 date?"
"i just did that with two borrowers. they only had net savings of $120 a month, but in in 5years, hpefulyy they wil be under 80% and then they drop the $300-$400 a month in PMI. "
"Craig, another way to look at the savings is that it is not a quick money savor for the borrower, BUT in 5 years, when hopefully their PMI comes off, thjey will see a BIG drop in monthly payments, and realize the savings for years to come. Also, chances are if they are in a FHA loan, their income will qualify them to take larger tax deductions from the MI too"
"If FHA makes the change to MI on streamline's the flood gates were open. I'm sick of getting calls from clients that are currently at 5.0% and at 3.75% I can only save them a few dollars a month."
"2.014 is pretty interesting today. I'm in the process of explaining why. extra credit if you can guess"
"good call MGD"
"hopefully that 4th bounce off of 2.0139 was the charm to send us under 2.00 again"
"Hoping to have a mortgagee letter next week"
"letter delayed for a week"
"anyone heard any news on the FHA streamline MI changes?"
"GM its good to see green"
About the Author
Chief Operating Officer,
Mortgage News Daily / MBS Live
A former originator, Matthew began writing for Mortgage News Daily in 2007, covering a wide range of topics. Seeing a need in the marketplace, his focus increasingly shifted toward relating MBS and broader financial markets for loan originators. ...
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Mortgage Rate Movement Nowhere to be Found
Mortgage Rates were sharply sideways today, with almost every lender offering the exact same terms as yesterday. This is part of an ongoing phenomenon...
Biggest Monthly Gain For New Home Sales in 10 Years
Rather than the month-over-month decline expected, July new home sales soared above 600,000 units for the first time since late 2007. The U.S. Census Bureau...
New and Old Lawsuits - Notable Settlements; Training...
The whole residential lending industry is abuzz about the article on housing in the Economist . "A decade on, the presumption is that the mortgage-debt...
MBS Day Ahead: Bonds May Not Even Want to be Inspired...
To say that bonds have been range-bound recently would be an understatement. I'm running out of ways to say it, and perhaps you're running out...
MBS RECAP: In Shocking Twist of Fate, Bonds Remain...
I apologize for tricking you with the title. The "shocking" part was unabashed sarcasm . It's not that anyone here is clairvoyant. Certainly...
Mortgage Rate Watch
Mortgage Rates Steady to Slightly Lower
Mortgage Rates were almost imperceptibly lower today, although underlying bond markets improved more noticeably. Why would rates not be more improved then...
Delinquency Increase is Seasonal- Black Knight
Mortgage delinquencies rose slightly in July; a change Black Knight Financial Services sees as seasonal. The number of mortgages that were 30 or more days...
More and More Homes Being Built to Rent
While the numbers remain small, the National Association of Home Builders (NAHB) notes there is a slowly increasing trend of single-family homes being...
MBS Week Ahead: Jackson Hole Week Begins With Weakest...
By the end of this week--and quite possibly for the next several weeks--you'll be tired of hearing about Jackson Hole . I know I'm already tired...
Only 3 New Banks in 7 Years? Servicing Packages; eMortgage...
Plenty of celebrities lose all their money, and then some, in various schemes. But here’s one Brady Bunch member that did pretty well in California...
View More at the Market Data Center
30 Yr FRM 3.41%
15 Yr FRM 2.75%
Jumbo 30 Year Fixed 3.52%
30YR FNMA 4.5 109-04
30YR FNMA 5.0 110-21
30YR FNMA 5.5 112-14
Recent Housing Data:
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