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: MBS Outperform on Curve Steepening and Corporate Issuance
Nov 16 2021, 4:15PM

The yield curve has been almost exclusively in "flattening" mode since June, and aggressively so.  This means that longer term Treasuries (like 10s and 30s) have risen at a slower pace than 2yr and 5yr Treasuries.  But traders can't do the same old thing every day and today was one of those counter-trend days.  The steepening was far from extreme, but it was enough to help MBS do a bit better than 10yr notes. MBS also benefited from an active slate of corporate bond issuance (which weighed down the Treasury complex, relatively). 

Econ Data / Events
  • Fed MBS Buying 10am, 11:30am, 1pm

  • Retail Sales 1.7 vs 1.4 f'cast

  • Retail Sales Excluding autos/gas 1.4 vs 0.5 previously

  • Import prices 1.2 vs 1.0 f'cast

  • Builder Confidence 83 vs 80 f'cast, 80 prev

Market Movement Recap
08:36 AM

Flat to slightly stronger overnight.  Brief weakness after Retail Sales data, but trying to find footing now.  10yr down .5bps at 1.613.  MBS unchanged at 102-05 (102.16).

10:00 AM

Weaker after the previous update.  Modest rally at the 9:30am NYSE open, and now back to unchanged levels in MBS.  10yr down only 0.3bps at 1.615.

12:08 PM

Yields unable to break below intraday floor, now back up to 1.627.  MBS down 1 tick (-0.03). 

03:03 PM

10yr yields up 1.6bps at 1.634.  MBS have been outperforming, currently unchanged at 102-06 (102.19).

MBS Pricing Snapshot
Pricing shown below is delayed, please note the timestamp at the bottom. Real time pricing is available via MBS Live.
UMBS 2.5
102-06 : +0-01
10 YR
1.6420 : +0.0210
Pricing as of 11/16/21 4:15PMEST

Today's Reprice Alerts and Updates
A recap of Alerts and Updates provided to MBS Live subscribers.
8:34AM  :  ALERT ISSUED: Losing Ground After Retail Sales Data

Economic Calendar
Time Event Period Actual Forecast Prior
Tuesday, Nov 16
8:30 Export prices mm (%) Oct 1.5 0.9 0.1
8:30 Retail Sales (%)* Oct 1.7 1.4 0.7
8:30 Import prices mm (%) Oct 1.2 1.0 0.4
9:15 Industrial Production (%) Oct +1.6 0.7 -1.3
10:00 NAHB housing market indx Nov 83 80 80
10:00 Business Inventories (% ) Sep 0.7 0.7 0.6

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 3.25%
  • |
  • 15 Yr FRM 2.59%
  • |
  • Jumbo 30 Year Fixed 3.15%
MBS Prices:
  • 30YR FNMA 4.5 107-04 (-0-01)
  • |
  • 30YR FNMA 5.0 108-31 (-0-01)
  • |
  • 30YR FNMA 5.5 109-07 (-1-07)
Recent Housing Data:
  • Mortgage Apps 2.79%
  • |
  • Refinance Index 3.16%
  • |
  • Purchase Index 1.82%