Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
# of Visitors Per Month
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: 4th Straight Day Inside Last Thursday's Range
Apr 21 2021, 3:28PM

Last Thursday was the best rally day we've seen in months and it took yields to their lowest levels since early March.  Against that backdrop, it seems like a sort of victory to be able to remain inside Thursday's trading range for the past 4 days.  Trading levels aside, the lack of volatility can be chalked up to an absence of significant market movers.  The calendar picks up a bit tomorrow with the ECB announcement and Jobless Claims bright and early.

Econ Data / Events
Market Movement Recap
08:33 AM

Very flat during Asian hours with a small bump higher in yield at the start of EU trading hours.  Bonds have been bouncing back since then and are now unchanged vs yesterday at 1.57% in 10yr yields and 103-17 (103.53) in UMBS 2.5 coupons.  No notable market movers.

11:20 AM

Some weakness after Bank of Canada's policy announcement and press conference--not normally something we care about, but bonds seem to care to some small extent, likely due to the T word (tapering).  10yr yields up 2bps at the worst moments, but now up only 1.4bps at 1.58%.  2.5 UMBS briefly turned red, but are back up 1 tick (+0.03).

01:45 PM

Weakness began drying up just after the last update and we're back to unchanged in 10yr yields and +.125 in MBS.  The gains were intact before the 20yr bond auction at 1pm, and we've been flat since then.

03:22 PM

Modest buying at the 3pm CME close, but not enough to break today's range in Treasuries.  MBS, on the other hand, have been grinding higher all afternoon and did, in fact, just hit their highest levels of the day, up 5 ticks (.16) at 103-23 (103.72).

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


More From MND

Mortgage Rates:
  • 30 Yr FRM 3.18%
  • |
  • 15 Yr FRM 2.57%
  • |
  • Jumbo 30 Year Fixed 3.14%
MBS Prices:
  • 30YR FNMA 4.5 108-02 (-0-05)
  • |
  • 30YR FNMA 5.0 109-26 (-0-10)
  • |
  • 30YR FNMA 5.5 111-24 (-0-05)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%