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  • MBS LUNCH: Slow and Steady Improvements

    by AQ on April 06 2009, 12:55 PM
    Small progress since the last post. Yield spreads are tighter as MBS outperforms TSYs. The mysteries of HASP home programs combined with lower yields on the short side of the TSY curve have served to slow "up in coupon" today. Some market participants...
  • MBS MORNING: Directional Guidance

    by AQ on April 06 2009, 11:21 AM
    Mortgages continue to take their directional guidance from the yield curve and the stock lever this morning. You are generally accustomed to monitoring the 10 yr Treasury note for your own personal mortgage rate guidance...this is a fair assumption to...
  • MBS OPEN: Last Week into This Week

    by AQ on April 06 2009, 8:26 AM
    On Friday mortgages strengthened vs. their benchmark big brother as MBS/TSY yield spreads tightened following the BLS announced that the unemployment rate hit its highest point since 1983. Although the data indicated growing stress in the domestic labor...
  • MBS CLOSE: Sell Off Fizzles Sideways Into Close

    by Matthew Graham on April 03 2009, 5:17 PM
    Despite the big hurt, MBS have been in a fairly narrow trading range as they move up and down in the broader month over month type trading ranges. This is usually indicative of stability. Today was probably the worst example of that as we swung from 100...
  • MBS: Continuing To Push Lows

    by Matthew Graham on April 03 2009, 2:32 PM
    Current Charts for MBS, 10 Yr Treasury, and Dow (now at highs of the day). Though this price cheaping is a needed "reset" for the bidders, it will likely continue to result in reprices for the worse, at least for today.
  • MBS Reprice Alert

    by Victor Burek on April 03 2009, 12:51 PM
    The current 4.0 coupon just moved to the lowest point of the day. This will pressure lenders to reprice for the worse.
  • MBS ALERT: Judo Chop! Er, uh, I Mean MBS Choppy!

    by Matthew Graham on April 03 2009, 12:04 PM
    Uncle Ben now reading prepared speech in Charlotte, NC. Tsy's tanking to lows of day, Dow has been rallying. MBS undecided, but took a sharp dive towards lows, and have since stabilized moderately. Due to tradeflow, we wouldn't expect 4.0's...
  • MBS ALERT: Lows Of The Day (update 1)

    by Matthew Graham on April 03 2009, 11:21 AM
    Both Tsy's and MBS have fallen to the lows of the day, with MBS performing significantly better. Things have gotten a bit ugly as evidenced by this not so friendly chart, showing 4.0's at 99-27. Reprices for the worse are a distinct possibility...
  • MBS MORNING: In Depth Look at Employment Situation

    by AQ on April 03 2009, 10:18 AM
    The MBS market continues to trade quietly in its own world. This morning flows are thin (activity is light) and MBS remains stable while TSYs yields push higher. Mortgages continue to show resiliency and independence from the "stock lever" while...
  • MBS ALERT: Jobs Data as Expected...MBS SELLS (for now)

    by AQ on April 03 2009, 8:38 AM
    Jobs data was "as expected". Treasuries and MBS are selling following the news. So far MBS trading is quiet (thin flows). I know you are trained to scorn a selloff...however in this case, given the need for cheaper dollar prices, you should...
  • MBS OPEN: Waiting on Employment Report

    by AQ on April 03 2009, 8:22 AM
    It's the first Friday of the month....that means it's time to absorb the most influential US economic indicator: The Employment Situation Report- Nonfarm Payrolls Economists forecast the unemployment rate will reach levels not seen since the early...
  • MBS CLOSE: What a Doozy of a Day!!!

    by AQ on April 02 2009, 9:10 PM
    Yawn. What a slow day in global financial markets. No real headline news to report tonight. Not really anything going on tomorrow either. Here's your "going out" MBS marks ... FN30 _______________________________ FN 4.0 -------->>>>...
  • MBS UPDATE: G20 Reactions

    by AQ on April 02 2009, 2:54 PM
    The MBS stack continues to trade in an isolated marketplace while the world digests a deluge of headline news and formulates new trading strategies. MBS outperforms TSYs (yield spreads are tighter). Production coupons continue to trade in a choppy range...
  • MBS LUNCH: Illustrating the Resiliency

    by AQ on April 02 2009, 12:51 PM
    Amidst the euphoric sanguinity produced from FASB's decision to relax "mark-to market" accounting policies and the developing global economic accords emanating from diplomatic leaders at the G20 Summit... MBS continues to show its resilience...

    by AQ on April 02 2009, 11:13 AM
    Treasury yields continue to push higher as global investors reinvest funds into equity markets. MBS is consequently following the lead of its benchmark big brother and selling off. Although it is early in the session and many investors have just release...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.01%
  • |
  • 15 Yr FRM 3.20%
  • |
  • Jumbo 30 Year Fixed 3.78%
MBS Prices:
  • 30YR FNMA 4.5 108-12 (-0-01)
  • |
  • 30YR FNMA 5.0 110-19 (-0-00)
  • |
  • 30YR FNMA 5.5 112-09 (-0-06)
Recent Housing Data:
  • Mortgage Apps 0.13%
  • |
  • Refinance Index -0.55%
  • |
  • Purchase Index 0.97%