Go baby go. Keep going! 10 treasuries are down 13 ticks. Let's just hope that MBS follow and lenders pass it along.

Reprice notice from TB&W

Adam, SIFMA hasn't updated since Thursday afternoon...Any ideas why?

Craig, this is not the 1st time that has happened. For whatever reason, I'm not sure, it doesn't update for long periods of time......

Perhaps the cliff dive that MBS took last Thursday had something to do with it.

Maybe something broke when it got up to +.25 last Thursday. Their system couldn't handle that much of an up tick on one day. :)

If the House allows the $800 billion in pork barrell spending, will it have a positive or negative effect on MBS? My instinct says negative because that will drive our deficit larger and increase inflation causing bond values to decrease. Any other thoughts?

Sorry, I meant that much of a down tick.

Starting to see some reprices

That's next years problem

Ok cool, I wasnt sure if it was a big deal in relation to MBS, now I can root against it without worrying about my YSP...lol

Adam how about showing the pricing today on the 3.5%...seems to be trading at a decent volume and on a huge upswing for the day...looks like the strongest coupons are 4% and 3.5%....is that sign of things to come?

Hey Adam If the treasury announces more bailouts next week as they are expected to...is this going to be a bad thing for us? One of their main points is avoiding foreclosures....seems to me that this would be a bad thing for MBS pricing...when they mentioned bankruptcy judges possibly being able to modify loans rates seem like they took a dump. Any thoughts?

Any thoughts on this: US President Barack Obama promised on Saturday to help lower Americans' mortgage costs with a new plan, coming soon, that would revive the financial system and "get credit flowing again." Republicans, who opposed the president's stimulus package of over $800 billion largely because of its spending priorities, suggested mortgage help as well, proposing government-backed 4 per cent fixed-rate mortgages for "any credit-worthy borrower," Senate Republican Leader Mitch McConnell said.

I read that story, too. The problem is that the Republicans want 4% rates for all, but they have no plan on how to do it. So, once again they run their mouths about low rates and put the "that which shall not be named" on hold by putting refi and purchase customers back on the bench. I wish a week would go by with rates dropping and lawmakers keeping their mouths shut!

Between the much used 4.5% magic number used over the last month or so and now this 4%, I think this will keep people on the sidelines waiting and watching- me included. If the feds keep using these numbers they better start producing them or like Patrick says, keep their mouth shut.

Patrick, Interesting story. I wonder how much that is political positioning versus a realistic proposal? Maybe it's just a popularist idea to float to widdle away at that Obama approval rating? I don't know that the govt. is ready for that level of interventionism... but who knows, who thought they'd ever take over the major banks?

Can anyone enlighten me on why 20 year rates are so high? It looks like 4.55 is trading at over 102 but I can't find 4.5% at par anywhere....seems like an awful big spread.....any input is appreciated.

Bobby - My 20 year rates always lag behind my 30 year rates, probably due to the fact that I have 3 investors for 30 year and only 1 for 20 year. The weird thing today is that 15 years rates are higher than 30 year. Anyone else seeing this or are my investors playing a little Groundhog Day trick on me?

I saw the same thing on the 15 year vs. the 30 year. And 20 year rates are not that great. UGH! Anyone thinking w/the way the market was today - rates will be a little better tomorrow?

define "credit worthy borrower" apparently everyone is defining this term differently.

120% ltv, I wonder what kind of adjustment that will have?

just looked AT CNBC premarkets the ten year seems to have bit it now sitting at 2.84...from a 2.72 close.. what has this done to MBS this evening since the last price update?

srry fellas hit the refresh button LOL....that helped!!! 2.70 ignore my post!!

the 10 year says 2.702.......not 2.84

Seeing more and more articles mention this plan to lower rates to 4%-4.5% (has support from Dem. and Rep.) and give home buyers 15k when they purchase a new home. We truly are the land of the free...Does MND have a take on what this means to everyday rate sheets: Can the US Gov't "set" mortgage rates at 4.00%? And if every lender offers a 4.00%....do we need LO's? If this happens say goodbye to LO's becuase who needs them. Or even if there needed (which they wont be) will an LO (who would normaly make thousands per loan) stay in the biz when their making peanuts? Average ones will stay, the top will leave. This 4% stuff brings up a ton of questions.

Edgar you are way off target...the banks don't have enough LOs to handle the business if the rates drop to 4%...it is going to take every licensed LO in every state to capture the volume...yes you may not make as much per deal but you will make up for it in volume....even if you only made$1,500 a loan at 20 loans a month that is a good living.....you will always need LOs to offer products.....it is less expensive for the bank to let us originate them than to originate them in house....

Bobby I hate to say it, you're not going to make 1.5k per loan if the government sets rates at 4%. You are right they'll need Lic LOs to handle the volume so I guess I should have said we'll all become processors. Same title, different job function.

4.0% sounds awesome, let's see, .75 add for Fico, .5 add for LTV, .25 add for county/state, .5 add for property type, .25 add for 45 day lock, ..25 add for loan amount, 3 add for borrower having brown eyes, .2 add for being left handed, .125 add for being un-married...............with all the damn FNMA new and future adjustments NOBODY will be getting a 4.0% plain and simple...