Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
28,899
# of Forum Posts
Subscribe
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
-
 RSS
Bottom Right Default
State Name: Massachusetts
State Name underscore: Massachusetts
State Name dash: Massachusetts
State Name lower underscore: massachusetts
State Name lower dash: massachusetts
State Name lower: massachusetts
State Abbreviation: MA
State Abbreviation Lower: ma
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.

Share:
  •  Email    Link Here
  • Widgets

MBS RECAP: Rates Having a Tough Time Breaking Lower, At Least For Now
Jul 23 2020, 4:15PM

We've been following .58% in 10yr yields for months as the best candidate for the bottom of "the range."  Now that mortgage rates and MBS spreads have largely settled relative to Treasuries, we might wonder if they'll also have a tough time moving lower.  The big caveat here is that there's still a chance that the .58% bounces are purely coincidental.  If it continues to happen, we'll be talking more and more about it.

Econ Data / Events
Market Movement Recap
08:14 AM

Bonds modestly stronger overnight despite slightly higher stock prices.  0.58% resistance remains intact underfoot.  2.0 UMBS starting out almost an eighth of a point higher.

09:13 AM

Bonds briefly improved after Mnuchin comments (lower unemployment benefits and no payroll tax cut in the next round of stimulus), but are struggling to stay below .58%.  2.0 UMBS are an eighth of a point higher.

12:06 PM

MBS now down an eighth from the highs.  10yr yields unable to break below .58%.  Low volatility overall.  

03:55 PM

MBS continue to underperform despite Treasuries returning toward their better levels of the day.    10yr yields are down nearly 2bps at .582.  2.0 UMBS are down at the lows of the day, - 2 ticks (-0.06) vs yesterday and trading at 102-29 (102.91).  


MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
MBS
UMBS 2.0
102-29 : -0-01
Treasuries
10 YR
0.5790 : -0.0160
Pricing as of 7/23/20 4:13PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
3:55PM  :  ALERT ISSUED: MBS Revisiting Lows; Modest Reprice Risk Remains
12:06PM  :  ALERT ISSUED: Bonds Struggle With Resistance; Slight Reprice Risk
9:13AM  :  Bonds Briefly Improve After Mnuchin Comments

MBS Live Chat Highlights
A recap of featured comments from the Live Discussion on the MBS Live Dashboard.
Mark Ingram  :  "Shameless Plug - I've been a member for 2 months now. I LOVE the group chat and the live updates. As a 20+ year vet flying solo, this is the support and technology I have needed. Thanks MG & the Gang!"

Economic Calendar
Time Event Period Actual Forecast Prior
Thursday, Jul 23
8:30 Continued jobless claims (ml) w/e 16.197 17.067 17.338
8:30 Jobless Claims (k) w/e 1416 1300 1300
Friday, Jul 24
9:45 PMI-Composite (source:Markit) * Jul 47.9
10:00 New home sales chg mm (%)* Jun 4.0 16.6
10:00 New home sales-units mm (ml)* Jun 0.700 0.676

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


Share:
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


Comments

Join Now or Login to Post Comments

 

More From MND

Mortgage Rates:
  • 30 Yr FRM 3.14%
  • |
  • 15 Yr FRM 2.65%
  • |
  • Jumbo 30 Year Fixed 3.70%
MBS Prices:
  • 30YR FNMA 4.5 107-30 (0-01)
  • |
  • 30YR FNMA 5.0 109-18 (0-00)
  • |
  • 30YR FNMA 5.5 110-20 (0-03)
Recent Housing Data:
  • Mortgage Apps 6.76%
  • |
  • Refinance Index 9.13%
  • |
  • Purchase Index 1.96%