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MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
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  • MBS OPEN: WAITING ON RATE SHEETS

    by AQ on March 20 2009, 8:20 AM
    Good Morning All. Markets will be looking to tweak post-FOMC investing positioning today. Overnight TSY yields moved lower after a period of profit taking yesterday. Mortgage bids are moving marginally lower at the open.... APRIL FN30 _____________________________...
  • MBS CLOSE: STILL CONSIDERING THE RISKS...

    by AQ on March 19 2009, 6:24 PM
    MBS sold off late in the day...I explained why in THIS POST . I am hoping it has nothing to do with what I am about to tell you. APRIL FN30 _____________________________ FN 4.0 -------->>>> -0-08 to 100-16 from 100-24 FN 4.5 -------->>>>...
  • MBS UPDATE: FED BUYS $19.675BN

    by AQ on March 19 2009, 3:16 PM
    Yes we did get a few reprices for the worse (more than one from a couple of lenders) MBS market participants took the opportunity to put some cash in their pockets as the belly of the yield curve(TSYs) took some gains of their own (THEY FOLLOW GUT-FLOP...
  • MBS UPDATE: Selling Taking The Driver's Seat

    by Matthew Graham on March 19 2009, 1:46 PM
    APRIL FN30 ______________________________ FN 4.0 -------->>>> -0-05 to 100-19 from 100-24 FN 4.5 -------->>>> -0-07 to 102-08 from 102-15 FN 5.0 -------->>>> -0-04 to 103-03 from 103-07 FN 5.5 -------->>>>...
  • MBS UPDATE: Prices Relatively Steady

    by Matthew Graham on March 19 2009, 1:27 PM
    APRIL FN30 ______________________________ FN 4.0 -------->>>> -0-03 to 100-21 from 100-24 FN 4.5 -------->>>> -0-04 to 102-11 from 102-15 FN 5.0 -------->>>> -0-00 to 103-07 from 103-07 FN 5.5 -------->>>>...
  • MBS UPDATE: CONSIDERING THE RISKS...

    by AQ on March 19 2009, 10:32 AM
    Quick price update while I consider how to efficiently tip toe around the emotions of the mortgage market... APRIL FN30 ______________________________ FN 4.0 -------->>>> -0-01 to 100-23 from 100-24 FN 4.5 -------->>>> -0-04 to...
  • MBS OPEN: PRICE UPDATE

    by AQ on March 19 2009, 8:17 AM
    APRIL FN30 _____________________________ FN 4.0 -------->>>> -0-01 to 100-23 from 100-24 FN 4.5 -------->>>> -0-02 to 102-13 from 102-15 FN 5.0 -------->>>> +0-01 to 103-08 from 103-07 FN 5.5 -------->>>>...
  • MBS CLOSE: In For A Dime, In For A Dollar

    by Matthew Graham on March 18 2009, 5:47 PM
    Today, the Fed announced the second leg of its Agency MBS Buying Program. Pundits and experts alike have been pondering the fate of the mortgage market come July 1st when the our current meal-ticket--the original $500 bln of the buying program--dries...
  • MBS UPDATE: MARKET REACTIONS

    by AQ on March 18 2009, 2:39 PM
    Bond yields fell fast (huge move in 10s), MBS bids moved down in coupon in a hurry, and equity markets shot to the highs of the day....(BANKS TRADING HIGHER!!!) APRIL FN30 _______________________________ FN 4.0 -------->>>> +1-04 to 100-06...
  • MBS ALERT: REPRICES FOR BETTER DUE

    by AQ on March 18 2009, 2:30 PM
    MBS moving aggressively dowin coupon after the FOMC announced they will outlay an additional $750bn for Agency MBS and that THEY WILL PURCHASE $300BNLONGER TERM TREASURY SECURITIES!!! "To provide greater support to mortgage lending and housing markets...
  • MBS ECON: PREPARING FOR THE FOMC STATEMENT...

    by AQ on March 18 2009, 1:42 PM
    Since the financial crisis began in the summer of 2007 the Federal Reserve has resorted to a number of methods to provide support and stability to financial markets and the economy. The FOMC has acted aggressively as the lender of last resort to provide...
  • MBS UPDATE: SPREADS WIDER AS TSYs STRENGTHEN

    by AQ on March 18 2009, 12:08 PM
    The stack continues to take its directional guidance from TSYs. Remember the recent trend...MBS grow weaker as TSYs rally which brings about profit taking. MBS strengthen as TSYs yield move higher which brings back MBS buyers. MBS demand/liquidity remains...
  • MBS UPDATE: RATES SLIGHTLY LOWER AGAIN

    by AQ on March 18 2009, 10:28 AM
    MBS bids moving up a few ticks as TSY rally. MBS is however slightly weaker vs. their benchmark big brother. Mortgage rates are once again slightly lower this morning... APRIL FN30 _______________________________ FN 4.0 -------->>>> +0-03...
  • MBS OPEN: APPLICATIONS INCREASE

    by AQ on March 18 2009, 8:04 AM
    Good morning. Shake off whatever headache you may have and get ready for a busy day.... At the open... (since 5pm) APRIL FN30 _______________________________ FN 4.0 -------->>>> -0-01 to 99-01 from 99-02 FN 4.5 -------->>>> -0...
  • MBS CLOSE: USUAL SUSPECT

    by AQ on March 17 2009, 7:32 PM
    If you decided to take the day off an enjoy a pint or two you didn't make a bad choice... We witnessed more of the same predictable MBS behavior today. MBS grew weaker as TSYs rallied which brought about profit taking. MBS then strengthened as TSYs...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.71%
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  • 15 Yr FRM 3.04%
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  • Jumbo 30 Year Fixed 3.64%
MBS Prices:
  • 30YR FNMA 4.5 108-28 (0-02)
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  • 30YR FNMA 5.0 111-10 (-0-01)
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  • 30YR FNMA 5.5 113-05 (-0-01)
Recent Housing Data:
  • Mortgage Apps -2.33%
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  • Refinance Index -1.76%
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  • Purchase Index -3.07%