Although MBS are just barely into positive territory and Treasuries are just now getting back to unchanged levels after morning weakness, today is about as positive as it can be.  Reason being, simply holding near unchanged levels means bonds are attempting to confirm yesterday's sharp improvements.  Either that or it's the last day of the month and there's additional demand for bonds as a result. 

Even then, it's not too difficult to accept the past 2 days as an 'in trend correction.'  There were all the following reasons:

- recent run to weakest levels of the year

- Greece-related uncertainty

- massive weakness in Asian equities markets

- supportive month-end environment for bond markets

Long story short, there were more than a few reasons that the big move made sense by the time we added Greece and Asia into the mix (forget Puerto Rico--old news).  This trend is still not our friend.  But it could begin looking more friendly over the next 2 days if data goes our way.  If it doesn't, there's no major reason for the trend to end.

2015-6-30 Trend


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
FNMA 3.0
99-17 : +0-03
FNMA 3.5
103-00 : +0-03
FNMA 4.0
105-29 : +0-03
Treasuries
2 YR
0.6330 : -0.0040
10 YR
2.3330 : +0.0050
30 YR
3.0970 : -0.0040
Pricing as of 6/30/15 11:47AMEST

Morning Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:59AM  :  Bond Markets Mostly Holding Yesterday's Gains

Live Chat Featured Comments
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Jason Harris  :  "I thought Freddie was still at 2% or payment reflected at bureau"
Robert Rippy  :  "That guideline I posted actually goes into effect July 20. Anyone know where I can find the current guideline of 1%? It will save my deal if I can show the underwriter."
Robert Rippy  :  "They qualify with the 1% payment. However, I just found this from Freddie and their guidelines are not 1%, it is 2% with Freddie. http://mndne.ws/1iAHDx5"
Jason Anker  :  "your UW is correct"
Robert Rippy  :  "It is income based but my underwriter is saying I need to get a payment from the student loan servicer"
Jon Bodan  :  "Yep, policy is mirrored."
Robert Rippy  :  "Did Freddie change their guidelines for student loans to 1% like Fannie did if no monthly payment terms have been established?"
Matthew Graham  :  "RTRS - US APRIL 20-METRO AREA HOME PRICES NON-ADJUSTED +1.1 PCT (CONSENSUS +1.1) VS +0.9 PCT IN MARCH-S&P/CASE-SHILLER"
Matthew Graham  :  "RTRS- US APRIL 20-METRO AREA HOME PRICES +4.9 PCT (CONSENSUS +5.5 PCT) FROM YEAR AGO -- CASE-SHILLER"
Christopher Stevens  :  "I'm less concerned about Greece and more concerned with NFP. "
Victor Burek  :  "SCHAEUBLE SAID TO SEE GREECE STAYING IN EURO EVEN IF 'NO' VOTE"