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  • MID-DAY ALERT .......................... 1/29/08 - 10:50AM PST

    by Matthew Graham on January 29 2008, 6:49 PM
    As I typed the first post this morning, I warned of bond prices dropping and recommended a lock. Most lenders have now repriced, and the price curve on bonds seems to have hit a floor and has been trending back upward. We're back up near today's open...
  • 1/29/08 Let the Battle Begin

    by Matthew Graham on January 29 2008, 3:40 PM
    I referenced traders taking up "battle positions" in yesterday's post due to the immense amount of highly pertinent economic data set to release this week. The battle has begun begun today with a moderate show of force from both sides. Here's the data...
  • 1/28/2008 - Monday Morning

    by Matthew Graham on January 28 2008, 4:29 PM
    We begin the week with expected volatility as the financial markets scurry to take up their battle positions before the tumultuous week ahead. MBS's are holding their gains from Friday, and have currently gained an additional 4/32nds which should be good...
  • Floating Now

    by Matthew Graham on January 25 2008, 9:02 PM
    Back and forth! Stocks sold off late in the session. Bond markets open for another hour and gains are holding. Feel free to float through the day. Next week is anyone's guess.
  • Consider Locking

    by Matthew Graham on January 25 2008, 8:08 PM
    Prices leveling off, locking may be safer for short term loans. Bonds have given up 3-4/32nd's of their gains.
  • STRONG float recommendation

    by Matthew Graham on January 25 2008, 5:46 PM
    The recommendation is a strong float until this trend breaks. Look for clues on the DOW and 10 year. Check back here also as we will be posting significant changes when we see them. but expect numerous improvements if this buying continues. update as...
  • Float For Now

    by Matthew Graham on January 25 2008, 5:46 PM
    Bond prices on the move up! Good news! Float for now, but keep an eye on the markets and on this blog for sudden changes.
  • 1/25/08

    by Matthew Graham on January 25 2008, 3:32 PM
    There are no economic reports releasing today. Right after the closing bell yesterday, Microsoft announced better than expected earnings which has helped stocks to some degree this morning, although the Dow just ticked negative as this is being written...
  • Careful...

    by Matthew Graham on January 24 2008, 5:19 PM
    Despite relatively stagnant stocks, FNMA bond prices are still falling. Locking is the safest bet. We're down about 6/32nds from this morning which could lead to mid-day reprices.
  • New Home Sales Down 2.2% to 4.89

    by Matthew Graham on January 24 2008, 3:03 PM
    This was just is just hitting the trading floor. Thought I'd let you know a couple minutes before Bloomberg or CNBC. Only slightly lower than expected and not having an impact on bonds at all right now.
  • 1/24/08 - Ouch

    by Matthew Graham on January 24 2008, 2:42 PM
    It was hard to miss the sharp rebound in stocks yesterday. Coupled with some potentially reassuring news for bond insurers, this led to a ridiculously huge sell off in bonds. Rates took a beating of a full discount point in some cases. This is the technical...
  • Heads Up

    by Matthew Graham on January 23 2008, 7:34 PM
    Stocks rebounding. watch yourself.
  • 1/23/08 - BONDS CONTINUE TO IMPROVE

    by Matthew Graham on January 23 2008, 3:09 PM
    Mortgage Backed Securities closed near at or near the highs of the session yesterday. They held very steady with the 5.0% coupon above 100-15/32nds for the whole afternoon despite rapid fluctuations in stocks. Lenders did not price that strength into...
  • Holding Gains!

    by Matthew Graham on January 22 2008, 5:11 PM
    We're currently holding gains in MBS's and even slightly up in cases. Keep Floating! Update as of 3:11pm EST: We are still holding gains and improving! Despite the slight rebound in stocks, traders are buying bonds (good for mortgage rates). Keep floating...
  • 7:39 PST UPDATE, markets recovering slightly

    by Matthew Graham on January 22 2008, 3:38 PM
    Stocks have recouped some of their huge losses this morning and this may squeeze some money out of the bond market (meaning rates might not be as low as we hoped in the original post this morning). Still, the 5.0% coupon is hovering around PAR at 100...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.97%
  • |
  • 15 Yr FRM 3.31%
  • |
  • Jumbo 30 Year Fixed 4.13%
MBS Prices:
  • 30YR FNMA 4.5 106-21 (0-05)
  • |
  • 30YR FNMA 5.0 107-16 (-0-09)
  • |
  • 30YR FNMA 5.5 109-30 (-0-00)
Recent Housing Data:
  • Mortgage Apps 3.27%
  • |
  • Refinance Index 5.05%
  • |
  • Purchase Index 1.43%