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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: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj
MBS Commentary Home
Fed Minutes Today at 2pm EST
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and MBS Live members have been on top of those movements every step of the way.
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MBS RECAP: Ugly Sell-Off As Econ Data Adds Momentum To Overnight Moves
Jan 17 2013, 4:07PM
: MBS Afternoon Market Summary
After Japan's Economy Minister said the Yen had room to move up to 100.0 before becoming problematic, overnight markets started moving higher in rate. Rumors that the ECB is considering tighter collateral requirements squeezed core EU debt sharply higher in the European hours, and the knockout punch arrived with much stronger-than-expected economic data at the beginning of the US session. Compared to the overnight and early morning movement, the rest of the day was meaningless, just drifting slightly weaker, then bouncing back microscopically before tripping the really gut-wrenching technical signals in Treasuries. The 40-60bps chunk missing from rate sheets is gut-wrenching though. In most cases, half of that was already missing in the first round of rates, with the other half evaporating after MBS leaked lower into the afternoon.
MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom.
Real time pricing
is available via MBS Live.
104-00 : -0-13
105-30 : -0-09
106-20 : -0-06
107-20 : -0-03
105-02 : -0-13
107-31 : -0-10
109-05 : -0-07
109-08 : -0-03
103-22 : -0-13
105-22 : -0-09
106-09 : -0-07
106-27 : -0-03
Pricing as of 4:04 PM EST
Afternoon Reprice Alerts and Updates
Below is a recap of instant
and updates issued via email and text alert to
MBS Live subscribers
Negative Reprices More Likely Now as FN 3.0s Break 104
This will be a quick one as markets are moving quickly. Fannie 3.0's are now down 14 ticks to 103-31. 10yr yields broke over intraday support ceilings, as did stocks. Negative reprices are more likely for a wider group of lenders at these levels.
Back To AM Lows. Negative Reprice Risk Slightly Increased
Fannie 3.0s are back to 104-04, mathcing their lows of the morning. There hasn't been a ton of similar movement suggested by Treasuries, which are instead just traipsing sideways near their highs of the day.
But the move in MBS is a more directional mini-selling-spree from the 104-08 territory during rate sheet print times. It's not necessarily enough movement for most lenders (who already priced conservatively), to add a negative reprice on top of that, but it hasn't shown much desire to bounce back to higher prices.
if we hold here, it's possible we could see an outlying reprice. It would probably take a few ticks of additional weakness to get more than 1 or 2 lenders on board with such things though.
Live Chat Featured Comments
A recap of the featured comments from the
MBS Live Dashboard's Live Chat feature
, utilized by hundreds of industry professionals each day.
S John Murray
: 2:55 PM - Citi
: 2:00 PM - Pinnacle
: 1:50 PM - Wells Fargo
: 1:20 PM - Provident Funding
: 1:18 PM - Kinecta
: 1:11 PM - Interbank
: 1:09 PM - Caliber Funding
: 1:01 PM - Flagstar
: 12:58 PM - Everett Financial
: 12:57 PM - Sierra Pacific
: 12:53 PM - Platinum Mortgage
: 12:49 PM - Florida Capital Bank Mortgage
"MF Citi's numbers were not as bad as reported their reserve loss will be made up over the course of this year, think they wanted to make the new guy look good "
"RTRS- FED'S LOCKHART SAYS BOND BUYING WILL LIKELY NEED TO CONTINUE BEYOND MID-2013 "
"the reason for the pain is in the morning alert and again in the "mid-day." Simply put, the issues are bigger considerations than "mere" US bank earnings."
"but with BofA and Citi awful reports of less profit and huge charges why isn't this helping fixed income markets more today? reports out this morning..they are sucking"
"RTRS - CITIGROUP CFO: WANT TO SEE OUTCOME OF US DEBT TALKS BEFORE REDUCING MORTGAGE RESERVES "
"The next time a listing agent insists that my client gets prequalified with her preferred lender I'm going to agree and then tell her that I insist her seller meet with my preferred realtor to be sure he wants to sell his house"
what our user's have to say
about MBS Live
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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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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...
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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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