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: Bonds Rally After CPI Gives Fed The Week Off
Sep 14 2021, 4:13PM

Today's Consumer Price Index (CPI) was one of the only big ticket economic reports left before next week's Fed announcement, and perhaps the only one that could have meaningfully impacted the Fed's decision-making process.  By coming in tamer than expected (and with several notable sectors such as used autos being down 1.5%), today's result effectively tells the Fed it can take next week off.  Had today's report been significantly stronger than expected, markets may have panicked for fear that the Fed could announce some measure of reduction in its rate-friendly policies.

Econ Data / Events
  • Fed MBS Buying 10am, 1130am, 1pm

  • Core CPI (y/y) 4.0 vs 4.2 f'cast, 4.3 prev

Market Movement Recap
08:41 AM

Slightly weaker overnight with 10yr as high as 1.35 this morning.  Quick, small recovery after CPI data, but stalling/reversing now.  10yr nearly hit 1.33, now up to 1.345 (+1.7 bps on the day).  MBS down 2 ticks (0.06) at 101-05 (101.16).

09:46 AM

The rally is back on and yields are now near new lows for the day, down 2.2bps at 1.304.  MBS are now up an eighth of a point after being slightly weaker earlier this morning.

02:54 PM

Very quiet after the AM snowball rally.  10yr yields have been down in the 1.28% neighborhood since then, currently -4.7bps on the day at 1.279.  MBS are up nearly a quarter point and have also been flat since 10am.

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
101-13 : +0-06
10 YR
1.2770 : -0.0470
Pricing as of 9/14/21 4:13PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:36AM  :  Weaker Overnight; Slightly Stronger After CPI

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Sep 14
8:30 Consumer Price Index (CPI) (%)* Aug +0.3 0.4 0.5
8:30 Core CPI (Annual) (%)* Aug 4.0 4.2 4.3
Wednesday, Sep 15
7:00 MBA Purchase Index w/e 258.4
7:00 MBA Refi Index w/e 3292.1
8:30 Import prices mm (%) Aug 0.3 0.3
8:30 Export prices mm (%) Aug 0.4 1.3
9:15 Industrial Production (%) Aug 0.4 0.9

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 2.96%
  • |
  • 15 Yr FRM 2.41%
  • |
  • Jumbo 30 Year Fixed 3.06%
MBS Prices:
  • 30YR FNMA 4.5 108-08 (0-02)
  • |
  • 30YR FNMA 5.5 111-13 (0-00)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%