Register or Sign in        Email This Page     Link To This Page    
Visit MND at MBA in NYC!
33,877
# of User Comments
Subscribe
 Email Alerts
Receive an Email Alert each time a story is posted to MBS Commentary.
-
 RSS
Bottom Right Default
State Name: Washington
State Name underscore: Washington
State Name dash: Washington
State Name lower underscore: washington
State Name lower dash: washington
State Name lower: washington
State Abbreviation: WA
State Abbreviation Lower: wa
SECONDARY MARKETING MANAGERS:
Gain access to the most accurate real-time back month TBA indications from Thomson Reuters and Tradeweb. LEARN MORE
MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
  • Holding Steady For Now

    by Matthew Graham on May 05 2008, 4:36 PM
    Despite some ups and downs, MBS is steady currently with the 5.5% down 4/32nds on the day at 100-13. MBS are still tracking relatively well with treasuries and the stock market. This blog will not be updated for a while as you will just be able to look...
  • Some Rebound

    by Matthew Graham on May 05 2008, 3:02 PM
    With no economic data or mortgage related headlines of note, the stock market is exerting some forces on the MBS market. With the Dow down over 100 points right now, MBS have rebounded a bit with the 5.5% coupon back up 100-13. That's only an eighth in...
  • Starting to See Some Noise (the unpleasant kind)

    by Matthew Graham on May 05 2008, 2:07 PM
    This old economy of ours seems to think it is going to make a run at pulling out of this recession. The ISM Non-MFG Survey index leaped to an unexpectedly high 52.0, appreciably higher than the 49.3 expectation. In addition, stocks are paring their earlier...
  • Quiet Monday Morning for MBS

    by Matthew Graham on May 05 2008, 12:59 PM
    This will just be a prologue for the rest of the day. MBS is dead even on the day so far as we wait for the stock market to open and for the moderately important ISM non-manufacturing survey index. ISM is the only scheduled data for today, so the stock...
  • And We're Back Down Again

    by Matthew Graham on May 02 2008, 7:48 PM
    Apparently the MBS rally was too good to last. We've given back all of our gains from earlier this afternoon, with the 5.5% coupon back down to 100-13. Locking is in order unless you are floating into next week.
  • Graph of Today's Action

    by Matthew Graham on May 02 2008, 6:00 PM
    (yes, Graphs are back!) As you can see, we had the major drop after the NFP announcement early this morning. Not much change from the 2nd round of data from the day, and we can see MBS now fighting to move higher as stocks have lost ground on the day...
  • rebounding...

    by Matthew Graham on May 02 2008, 5:30 PM
    We've come up off the lows from earlier this morning and are now only about 4/32nds negative on the day which should be good for some reprices for .125, as long as we hold current levels. More aggressive lenders, or those that over-hedged this morning...
  • What's in the Kool-Aid at the BLS?

    by Matthew Graham on May 02 2008, 1:22 PM
    It was supposed to be a nice morning in the pool, but then, of all things, a giant shark shows up and takes a bite out of the fun. Who would have guessed? A bumble bee I could see, but how did a shark get in this pool? Sometimes the economic releases...
  • NFP MUCH BETTER THAN EXPECTATIONS

    by Matthew Graham on May 02 2008, 12:40 PM
    TGIF does not apply today--not when we've just been blindsided by a crushingly positive Non-Farm Payrolls number. The consensus was for an 80k job loss, and we only lost 20k! To make matters worse, unemployment fell appreciably. If you have access to...
  • Locking is safest, But Floating Beckons

    by Matthew Graham on May 01 2008, 9:22 PM
    We ended the day 4/32nds ahead of yesterday. But this was almost 10/32nds off the highs of the days. Whether you choose to lock now or not will depend on your estimation of tomorrow's data. NFP is anticipated at 75k negative. Personally, I think it will...
  • Back To Floating

    by Matthew Graham on May 01 2008, 6:21 PM
    If you did, in fact, see your reprices for the worse, and that should be most every lender, then floating is once again in order. We've come up off the lows a bit with the 5.5% coupon at 100-21. At it's lowest, we say 100-16. Wall Street is mum on the...
  • heavy trading, prices tanking

    by Matthew Graham on May 01 2008, 5:01 PM
    we've dropped off the face of the earth as the 5.5% coupon has actually turned negative on the day. I would advise locking immediately just to be on the safe side.
  • Dropping Again,

    by Matthew Graham on May 01 2008, 4:46 PM
    Fairly Sharp Drop bringing 5.5% coupon to 100-22. Reprice for the worse potential, but again, probably only an eighth
  • UP/Down,

    by Matthew Graham on May 01 2008, 2:44 PM
    MBS is falling again. We're only down an eight off the highs, but nonetheless, this may prompt some lenders to take that eighth away from you if they already released rates this morning. Personally, I would give up this eighth (if it even happens) in...
  • For those of you that were nervous

    by Matthew Graham on May 01 2008, 2:24 PM
    The selling was only brief and we are now halfway back up to the highs of the day at 100-28, after briefly touching 100-26.
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 3.68%
  • |
  • 15 Yr FRM 2.84%
  • |
  • Jumbo 30 Year Fixed 3.78%
MBS Prices:
  • 30YR FNMA 4.5 107-08 (0-01)
  • |
  • 30YR FNMA 5.0 108-01 (0-00)
  • |
  • 30YR FNMA 5.5 108-14 (0-00)
Recent Housing Data:
  • NAHB Builder Confidence 4.76%
  • |
  • Mortgage Apps 1.81%
  • |
  • Refinance Index 2.80%