Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Subscribers
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
Bottom Right Default
State Name: Connecticut
State Name underscore: Connecticut
State Name dash: Connecticut
State Name lower underscore: connecticut
State Name lower dash: connecticut
State Name lower: connecticut
State Abbreviation: CT
State Abbreviation Lower: ct
Fed Minutes Today at 2pm EST
Follow the markets live as the Fed Minutes are released at 2pm EST today.
Thomson Reuters MBS Aggregations
Gain access to a powerful search engine and most accurate and timely mortgage industry originator and servicer rankings.
MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
It's Fed Day. Are you ready?
If you've been following the MBS Commentary, you know what a big deal this afternoon could be. Markets have been preparing for it for weeks and MBS Live members have been on top of those movements every step of the way.
This afternoon, when markets are convulsing mere milliseconds after the Fed Announcement, MBS Live members will know what's going on before anyone else. The accuracy and speed of our real-time price stream and alerts is unmatched.
Here's a purchase code to take the free trial for 4 weeks with no credit card required.

  •  Email    Link Here
  • Widgets

MBS RECAP: How Low Can Rates Eventually Go?
Jul 20 2020, 2:57PM

Until further notice, we can expect to see the bond market drift in a fairly consistent range, making modest course course corrections depending on the covid outlook. We can also dig into the nuts and bolts of the mortgage bond market to ask and answer questions about how low rates can eventually go. The answer is actually surprisingly simple.

Econ Data / Events
Market Movement Recap
08:16 AM

Bonds opened the overnight session slightly stronger.  Stocks were slightly weaker.  No major movement since then, but a slightly stronger bias in bonds in early domestic trading.

11:43 AM

Yields found bottom right in line with Friday's lows (.60%) and have been moving higher since roughly 9am.  2.0 UMBS bounced at their Friday highs shortly thereafter and are down about 2 ticks (0.06) since then.

01:20 PM

MBS and Treasuries both just turned negative on the day, but not for any particular reason.  The only suspect at the scene of the crime was simply the close of the European bond market (it's not uncommon to see tradeflows shift after a major market closes/opens for the day).

02:52 PM

After a bit more weakness, both Treasuries and MBS found support.  Both are near unchanged despite ongoing strength in stocks.

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.0
102-24 : -0-01
10 YR
0.6200 : -0.0080
Pricing as of 7/20/20 2:56PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
1:20PM  :  ALERT ISSUED: Reprice Risk Increasing Slightly
1:03PM  :  ALERT ISSUED: MBS Now Down an Eighth of a Point From Highs

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. ... more

Other Contributors

Discuss the MBS and Mortgage Markets on Our Streaming Dashboard
Discuss MBS and Mortgage Markets with Hundreds of Loan Officers on the MBS Live Streaming Dashboard.
  »Start a Two Week Risk Free Trial


Join Now or Login to Post Comments


More From MND

Mortgage Rates:
  • 30 Yr FRM 2.86%
  • |
  • 15 Yr FRM 2.27%
  • |
  • Jumbo 30 Year Fixed 3.03%
MBS Prices:
  • 30YR FNMA 4.5 107-24 (0-00)
  • |
  • 30YR FNMA 5.0 109-05 (0-01)
  • |
  • 30YR FNMA 5.5 111-15 (0-01)
Recent Housing Data:
  • Mortgage Apps -4.01%
  • |
  • Refinance Index -2.79%
  • |
  • Purchase Index -6.40%