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MBS Basics:   Part 1  |  Part 2  |  Part 3  |  Part 4  |  The Gut Flop
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  • MBS OPEN: Rise and Shine MBS

    by AQ on January 08 2009, 7:48 AM
    Fn 4.0-> +0-00 to 101-01 Gn 4.0-> unchanged at 100-09+ Fn 4.5-> +0-04 to 102-20+ Gn 4.5-> +0-02 to 103-11 Fn 5.0-> +0-03 to 103-11 Gn 5.0-> +0-06 to 104-01+ Fn 5.5-> 0-00 to 103-19 Gn 5.5-> +0-01 to 104-07 Fn 6.0-> -0-00+ to...
  • MBS CLOSE: PRICE SNAPSHOT

    by AQ on January 07 2009, 7:25 PM
    Fn 4.0-> -0-10 to 101-01 Gn 4.0-> unchanged at 100-09+ Fn 4.5-> -0-02+ to 102-15+ Gn 4.5-> -0-03+ to 103-09 Fn 5.0-> -0-02+ to 103-08 Gn 5.0-> -0-00+ to 103-28 Fn 5.5-> -0-01 to 103-19 Gn 5.5-> +0-01+ to 104-06 Fn 6.0-> -0-03...
  • MBS UPDATE: STILL SIDEWAYS

    by AQ on January 07 2009, 3:35 PM
    Two way above average trade volumes are essentially cancelling each other out today...with a slight advantage to the seller. (There are buyers and sellers actively participating in trading, there are more sellers than buyers) Fn 4.0-> -0-04 to 101...
  • MBS AFTERNOON: Testing a technical floor as treasuries sell

    by Matthew Graham on January 07 2009, 1:43 PM
    So far, we've enjoyed a fairly stable late morning and early afternoon despite fluctuations in the treasury market. After this morning's selling and subsequent rebound, we crested a level of 102-15 in the 4.5 coupon and that has held firm as a...
  • MBS UPDATE: SITTIN SIDEWAYS

    by AQ on January 07 2009, 12:56 PM
    Looks like a waiting game...
  • MBS UPDATE: SLOW AND STEADY

    by AQ on January 07 2009, 11:26 AM
    After a brief retracement the coupon stack is slowly meandering back toward unchanged levels on the day... Fn 4.0-> -0-04 to 101-07 (5 ticks better than last post) Fn 4.5-> -0-01 to 102-17 (2 ticks better than last post) Fn 5.0-> -0-02+ to 103...
  • MBS MORNING: No Fed Yet....

    by AQ on January 07 2009, 9:05 AM
    After a wonderfully delightful MBS rally (not rate sheet rally) yesterday, the stack is taking a pause from the down in coupon craze. Fn 4.0-> -0-09 to 101-02 Fn 4.5-> -0-03 to 102-15 Fn 5.0-> -0-03 to 103-07+ Fn 5.5-> -0-04 to 103-16 Fn 6...
  • MBS UPDATE: Real Money Profit Takers

    by AQ on January 07 2009, 8:51 AM
    Early in the Session real money profit takers are selling...no Federal Reserve has been reported yet Fn 4.0-> -0-07 to 101-04 Fn 4.5-> -0-06+ to 102-12 Fn 5.0-> -0-11+ to 102-31 Fn 5.5-> -0-11 to 103-09 Fn 6.0-> -0-08 to 103-22 SHORT SHORT...
  • MBS OPEN: MBS OPEN

    by AQ on January 07 2009, 8:22 AM
    At the open... Fn 4.0-> -0-05+ to 101-05+ Fn 4.5-> +0-01+ to 102-19+ Fn 5.0-> -0-05 to 103-05+ Fn 5.5-> -0-03 to 103-17 Fn 6.0-> -0-01+ to 103-28
  • MBS CLOSE: Two Different Worlds

    by AQ on January 06 2009, 5:52 PM
    The foundation for 4.00% rates is being formed by MBS market participants... Fn 4.0-> +1-07+ to 101-11 Fn 4.5-> +1-01+ to 102-18 Fn 5.0-> +0-27 to 103-10+ Fn 5.5-> +0-26+ to 103-20 Fn 6.0-> +0-18 to 103-30 Look at those bullish trends....
  • MBS UPDATE: FOMC MINUTES OUT

    by AQ on January 06 2009, 2:08 PM
    Seeing some profit taking but we dont believe the selling has anything to do with the FOMC minutes... Fn 4.0-> +0-26+ to 100-30 Fn 4.5-> +0-26+ to 102-10 Fn 5.0-> +0-18 to 103-01+ Fn 5.5-> +0-19 to 103-12+ Fn 6.0-> +0-12 to 103-24 We have...
  • MBS UPDATE: Waiting on Reprices

    by AQ on January 06 2009, 1:47 PM
    After "sittin sideways" through the lunch hour...the rally as resumed. At this point we are expecting re-prices for the better, however in this brave new MBS world we are skeptical of lender's willingness/ability to participate in the "down...
  • MBS UPDATE: ASCENDING THE MOUNTAIN

    by AQ on January 06 2009, 11:41 AM
    Here is a snapshot of the stack... Fn 4.0-> +0-21+ to 100-24 Fn 4.5-> +0-22+ to 102-06+ Fn 5.0-> +0-18+ to 103-02 Fn 5.5-> +0-20 to 103-13+ Fn 6.0-> +0-12 to 103-24 The feverish pace has slowed to a sizzle but we are nonetheless drastically...
  • MBS ECON: Feverish "Down in Coupon" Pace

    by AQ on January 06 2009, 10:01 AM
    The NAR Pending Home Sales Index came in at 82.3, down 4.0% from October. This reading was weaker than even the worst of expectations and was the worst reading since EVER. The NAR blames "job losses and very weak consumer confidence". Factory...
  • MBS Morning: More Down in Coupon

    by AQ on January 06 2009, 8:50 AM
    Good Morning. It's a down in coupon day again.... Fn 4.0-> +0-12+ to 100-16 Fn 4.5-> +0-12+ to 101-29 Fn 5.0-> +0-09 to 102-24+ Fn 5.5-> +0-08+ to 103-02 Fn 6.0-> +0-06 to 103-18 There is word of real money buying this morning, no confirmation...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.65%
  • |
  • 15 Yr FRM 3.03%
  • |
  • Jumbo 30 Year Fixed 3.63%
MBS Prices:
  • 30YR FNMA 4.5 108-16 (0-04)
  • |
  • 30YR FNMA 5.0 110-14 (0-02)
  • |
  • 30YR FNMA 5.5 111-23 (-0-02)
Recent Housing Data:
  • Mortgage Apps 4.93%
  • |
  • Refinance Index 0.90%
  • |
  • FHFA Home Price Index 0.67%