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  • MBS OPEN: Continued Weakness, Probing Recent Lows

    by Matthew Graham on December 30 2008, 9:15 AM
    Last week, 101-05 was the lowest closing price in 4.5% Fannie 30yr MBS. As can be observed here: After the selling from late yesterday and this morning, which you can see in the graph below, we are once again at those levels. The weakness appears to be...
  • MBS OPEN: Falling Sharply After The Open

    by Matthew Graham on December 30 2008, 8:28 AM
    4.5's are down 10 ticks on the day already to 101-09. If you have overnight price protection, consider taking it for short term deals. If, on the other hand, you're waiting for rates still, then we'll need to reassess after rates come out...
  • MBS CLOSE: Falling more sharply into the close

    by Matthew Graham on December 29 2008, 3:00 PM
    4.5's have now retraced ALL of their gains on the day and we are right back where we started at 101-19. You know what that means! you'll potentially end up with worse pricing at the end of the day than the beginning. Beware of slight additional...
  • MBS Alert: Spoke to Soon

    by AQ on December 29 2008, 2:35 PM
    Those pesky illiquid trading conditions!!!! FN 4.5: +0-03+ at 101-23 GN 4.5: +0-02 at 102-04+ FN 5.0: +0-04 at 102-08+ GN 5.0: +0-05+ at 102-25 FN 5.5: +0-07 at 102-19 GN 5.5: +0-07+ at 103-02+ FN 6.0: +0-08 at 102-29 GN 6.0: +0-06+ at 103-02 Reprices...
  • MBS Update: A Real Barnburner....

    by AQ on December 29 2008, 1:52 PM
    IT'S A REAL BARNBURNER IN MBS LAND TODAY!!! "NOT" --- in my best Borat voice :-) Volume is LOW and MBS prices are barely off their intraday highs. The 4.5 coupon is receiving the most attention so far today. Here is the current pricing....
  • MBS Update: Slightly Stronger Still Floating

    by AQ on December 29 2008, 10:12 AM
    Variable trading conditions continue...to our benefit for now. Here is a snap shot of the stack: FN 4.5: +0-12+ at 102-00 GN 4.5: +0-10+ at 102-12 FN 5.0: +0-10+ at 102-15 GN 5.0: +0-11 at 102-30 FN 5.5: +0-08 at 102-20 GN 5.5: +0-08+ at 103-03 FN 6.0...
  • MBS OPEN: Holding onto gains from last week's low volume trading

    by Matthew Graham on December 29 2008, 8:41 AM
    Low trade volume in the MBS market is a fact of life this time of year. It normally creates a bit more choppiness than normal and unreliable price levels. So we've been waiting with bated breath to see if the "nice" end to Friday's sparsely...
  • MBS Update: Sluggishly Better

    by AQ on December 26 2008, 12:43 PM
    Minimal supply and post holiday sluggish buying governs capital markets today as traders, lock desks, and originators alike are enjoying a quiet relaxing day with friends and family. The well below average trade volume reflects this culural custom of...
  • Friday 12/26...MBS at Open

    by Victor Burek on December 26 2008, 8:18 AM
    Currently our 4.5 mbs has opened and is currently trading at 101-10, which is 1 tick down from close on Wednesday. 5.0 is 102-02, 7 ticks higher 5.5 is 102-12, 3 ticks higher Today should be a very low volume day which tends to exaggerate moves.
  • MBS Close: Happy Holidays from MND

    by AQ on December 24 2008, 6:06 PM
    "I want an official Red Ryder, carbine action, two-hundred shot range model air rifle!"
  • MBS Update: Counting Down til Dismissal

    by AQ on December 24 2008, 12:59 PM
    After reaching intraday highs of 101-16 and 102-02 the FN 4.5 and FN 5.0 sold off but has quickly rebounded off of key short term technical support levels. Trading volume is WELL BELOW NORMAL so pricing is very volatile. FN 4.0: +0-13 at 100-05 FN 4.5...
  • Wednesday 12/24...Christmas Eve Rally?

    by Victor Burek on December 24 2008, 10:26 AM
    Our current 4.5 coupon is back above base camp and trading at 101-15, 9 ticks up on the day. The 5.0 is at 102-01, 7 ticks up on the day. A reprice for the better is possible.
  • MBS Update: The Day Before Christmas Vacation

    by AQ on December 24 2008, 9:43 AM
    Think back to elementary school....on the day before Christmas vacation was scheduled to begin. The teacher's lesson plan was crammed with board games, Christmas carols, cookie eating, and card making.....plus extra long recess!!! Now fastforward...
  • MBS Open: Marginal Up Tick

    by AQ on December 24 2008, 8:31 AM
    At the Open... FN 4.0: +0-01+ at 99-25 FN 4.5: +0-05 at 101-11 FN 5.0: +0-04 at 101-30 FN 5.5: +0-03 at 102-09 FN 6.0: +0-00+ at 102-18 SIFMA recommends a 2pm close for the bond market today...trading will be thin today so any large buy/sell orders have...
  • MBS AT GOING OUT LEVELS

    by AQ on December 23 2008, 11:51 PM
    No one took a stab at the "question of the day" which was posed in the morning post.....BOO HISS...disappointing people!!!! Here is a revised version if you missed it this AM.... Question of the Day: What is the indicator that leads us to be...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.88%
  • |
  • 15 Yr FRM 3.11%
  • |
  • Jumbo 30 Year Fixed 3.71%
MBS Prices:
  • 30YR FNMA 4.5 108-22 (0-04)
  • |
  • 30YR FNMA 5.0 110-28 (0-01)
  • |
  • 30YR FNMA 5.5 111-31 (0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%