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  • 12/12/07 BIG BEN SNAPS THAT RUBBER BAND!

    by Matthew Graham on December 12 2007, 3:30 PM
    Here's an excerpt from a mid day update yesterday: "consider that the massive sell off in the DOW could be viewed by some as an over-reaction. Any stock friendly news tomorrow could make the rubber band snap back. Conservative play here is to lock tonight...
  • FED NEWS COVERAGE - Who was there for you?

    by Matthew Graham on December 11 2007, 5:07 PM
    It’s hard to miss the news of the FED rate cut today. But just because the FED cut rates as expected, what were the short term implications on the mortgage market? Mortgage News Daily’s rate blog released the following commentary 5 minutes following the...
  • DON'T FALL FOR IT (12/11/07 update)

    by Matthew Graham on December 11 2007, 3:20 PM
    Lenders will begin coming out with price improvements now, some have already hit. Float until later in the day. If the DOW holds under 200-250 range by the close, then additional reprices for the better could be coming. There are economic reports tomorrow...
  • 12/11/07 FED announcement

    by Matthew Graham on December 11 2007, 2:17 PM
    Discount rate and FED Funds rate both cut .25. Some thought this was always priced into the market, but it appears many traders were hoping for more as the DOW is down sharply 10 minutes after the announcement. This should pump some money into the bond...
  • 12/11/07 - WAITING FOR FED DECISION

    by Matthew Graham on December 11 2007, 11:10 AM
    30 YEAR FIXED NOTE RATE: 5.75-5.875% LOCK RECOMMENDATION: WAIT FOR THE FED DECISION IF LOCKING TODAY. FUTURE LOCK RECOMMENDATIONS WILL DEPEND ON HOW THE MARKETS REACT TO THE RATE DECISION AND THE IMPORTANT STATEMENT THAT FOLLOWS. ANY NEGATIVE NEWS ABOUT...
  • 12/10/07 SLOW NEWS DAY, STOCKS UP

    by Matthew Graham on December 10 2007, 3:06 PM
    The pending home sales figures were released at 7AM this morning and are usually not a big mover of markets. Pending sales were up slightly at .6% month over month, but down 18.4% year over year. In other gloomy news, the National Association of Realtors...
  • 12/10/07 MID DAY UPDATE

    by Matthew Graham on December 10 2007, 2:34 PM
    5.5% FNMA COUPON IMPROVED BY 7/32NDS 6.0% FNMA COUPON WORSE BY 2/32NDS The trend today has been for both of them to improve. Possible mid-day price change for the better.
  • 12/10/07 - BREAKING NEWS

    by Matthew Graham on December 10 2007, 10:50 AM
    MBS PRICES ARE SLIDING DOWN 3/32ND'S ON A 6.0 COUPON. THIS WILL LIKELY AFFECT PRICING BY .125% OF A DISCOUNT POINT.
  • 12/7/07 - Job Growth Hurts Rates

    by Matthew Graham on December 07 2007, 10:32 AM
    The much-anticipated jobs report was released this morning. Estimates called for anywhere for anywhere from 65,000 - 90,000 new jobs to be added. The report slightly exceeded expectations coming in at 96,000. However, this was a downward movement from...
  • 12/6/07 - SLIGHTLY WORSE

    by Matthew Graham on December 06 2007, 4:26 PM
    30 YEAR FIXED NOTE RATE 5.5% LOCK RECOMMENDATIONS - LESS THAN 2 WEEK CLOSING ................ LOCK - 2-4 WEEK CLOSINGS. ............... FLOAT - 4+ WEEK CLOSING ................ FLOAT - CONSERVATIVE CAVEAT ................ RATES ARE AT THE BOTTOM OF TRADING...
  • 12/5/07 COUNTERPOINT

    by Matthew Graham on December 05 2007, 5:04 PM
    Some analysts say that the important factors of the upcoming employment situation report are Not what the actual numbers are, but how much they differ from "expectations." Since the ADP report came out so high today, it has some thinking that the consensus...
  • 12/5/07 MUCH LESS QUIET TODAY

    by Matthew Graham on December 05 2007, 4:32 PM
    30 YEAR FIXED NOTE RATE 5.5% LOCK RECOMMENDATIONS - LESS THAN 2 WEEK CLOSING ................ FLOAT - 2-4 WEEK CLOSINGS. ............... FLOAT - 4+ WEEK CLOSING ................ FLOAT - CONSERVATIVE CAVEAT ................ RATES ARE AT THE BOTTOM OF TRADING...
  • 12/4/2007 It's quiet, almost too quiet

    by Matthew Graham on December 04 2007, 3:40 PM
    30 Year Fixed Rate and Lock Recommendations: UNCHANGED from yesterday. The Dow is flat. 10 year note is flat. Mortgage backed securities are flat. This is the calm before the storm as the rest of the week is action packed. We have tons of employment information...
  • 12/3/07 - RATE IMPROVEMENT

    by Matthew Graham on December 03 2007, 11:46 AM
    30 YEAR FIXED NOTE RATE = 5.5% LOCK RECOMMENDATION: < ONE WEEK = LOCK > ONE WEEK AGGRESSIVE = FLOAT > ONE WEEK MODERATE = FLOAT > ONE WEEK CONSERVATIVE = LOCK The Institute for Supply Management released it's index this morning. Though the...
  • 11/30/07 - HOLDING STEADY

    by Matthew Graham on November 30 2007, 4:57 PM
    The 30 year fixed PAR rate is unchanged from yesterday. Stocks and bond yeilds are both up on Bernanke's comments regarding the Fed's awareness and intention to combat an impending recession. Economic data releases continue to show a weakening economy...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.97%
  • |
  • 15 Yr FRM 3.27%
  • |
  • Jumbo 30 Year Fixed 4.20%
MBS Prices:
  • 30YR FNMA 4.5 107-13 (0-02)
  • |
  • 30YR FNMA 5.0 109-05 (0-03)
  • |
  • 30YR FNMA 5.5 110-20 (0-04)
Recent Housing Data:
  • Mortgage Apps 3.27%
  • |
  • Refinance Index 5.05%
  • |
  • Purchase Index 1.43%