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: A Few Strategy Considerations Ahead of The Fed
Sep 21 2021, 3:54PM

The AM commentary revisited and reiterated the consolidation range that's been intact for more than a month.  As far back as 2.5 weeks ago (after the last jobs report) it became increasingly clear that the bond market stood its greatest chance of breaking out of the consolidation range after the September 22nd Fed announcement.  The direction, magnitude, and sustainability of that breakout remains to be seen, but after today's trading range fell completely inside yesterday's (hence the "inside day"), a post-Fed breakout is increasingly likely.

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

  • Housing Starts 1.615 vs 1.555m f'cast, 1.554m prev
    Building Permits 1.728m vs 1.600m f'cast, 1.630m prev

Market Movement Recap
08:33 AM

Bonds were moderately weaker overnight with losses peaking with stock gains shortly after the EU open.  Steady buying since 4am and getting back near 'unchanged' now.  No reaction to econ data.

12:02 PM

Bonds selling off into EU close.  Volume and activity picking up.  10yr now up 1.4bps to 1.326%.  MBS down 2 ticks (-0.06).  

01:50 PM

Bonds rallied modestly after the last update, but have been slowly, steadily weakening in the past hour.  Same levels as the previous update.  

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
101-01 : -0-02
10 YR
1.3230 : +0.0140
Pricing as of 9/21/21 3:54PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
9:14AM  :  Back to Unchanged After Overnight Weakness

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Sep 21
8:30 House starts mm: change (%) Aug +3.9 -7.0
8:30 Housing starts number mm (ml) Aug 1.615 1.555 1.534
8:30 Building permits: number (ml) Aug 1.728 1.600 1.630
8:30 Build permits: change mm (%) Aug 6.0 2.3
Wednesday, Sep 22
7:00 MBA Purchase Index w/e 277.9
7:00 MBA Refi Index w/e 3185.6
10:00 Existing home sales (ml)* Aug 5.89 5.99
10:00 Exist. home sales % chg (%)* Aug 2.0
14:00 FOMC rate decision (%)* N/A 0.125 0.125

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 3.19%
  • |
  • 15 Yr FRM 2.56%
  • |
  • Jumbo 30 Year Fixed 3.12%
MBS Prices:
  • 30YR FNMA 4.5 108-09 (0-01)
  • |
  • 30YR FNMA 5.0 109-26 (-0-08)
  • |
  • 30YR FNMA 5.5 111-27 (0-03)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%