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  • Turned Another Corner, Now Heading The Wrong Way

    by Matthew Graham on March 04 2008, 7:28 PM
    More details to follow, but prices are dropping again. Mid-day price worsening becoming more likely. *update What is not evident from the publicly available news and economic headlines is why we've seen so much selling today. Basically analysts are turning...
  • Turned A Corner + Breaking News

    by Matthew Graham on March 04 2008, 6:02 PM
    For the time being, we're not falling through the floor on bond prices. In breaking news, Dallas Fed President Richard Fischer has spoken out against rate cuts in order to solve our economic problems. He says inflation is much more of a concern. It's...
  • Heads Up (again)

    by Matthew Graham on March 04 2008, 5:44 PM
    Bond Prices are falling rapidly, be warned. mid day price worsening possible unless this turns around.
  • Rates Continue Higher

    by Matthew Graham on March 04 2008, 3:27 PM
    As expected, rates continue to move higher this week. - FNMA 6.0% Coupon ........... -- 07/32nds - FNMA 5.5% Coupon ........... -- 12/32nds This will equate to an increase of .25-.375 discount cost on today's rate sheets. What might seem strange is that...
  • Finished Flat to Slightly Weaker

    by Matthew Graham on March 03 2008, 10:11 PM
    Very low volume and mostly uneventful day. Volume was very low today and the prices stayed relatively flat. Some lenders repriced for the better and others for the worse. As was anticipated at the end of last week, we are seeing some regression today...
  • Inflation Strikes Back (but not too hard)

    by Matthew Graham on March 03 2008, 3:56 PM
    Well, the data is as bad as it's supposed to be regarding the economy. The ISM manufacturing index reported a level of 48.3, only slightly off the expectation of 48.1. Anything under 50 signals contraction in the manufacturing sector. Construction spending...
  • Prelude to a Good Day?

    by Matthew Graham on March 03 2008, 12:56 AM
    Happy Sunday To You! We're getting constant news wires from Asia and Australia right now (since their market is already open for Monday). Most major indexes are down over 3%. There is normally interconnectedness between US markets and the global economy...
  • Happy Friday Night To You!

    by Matthew Graham on February 29 2008, 11:55 PM
    Well, I'm vindicated! I can remember if it was Monday or Last Friday that I mentioned we should have our best rates in quite some time today. I know you haven't seen it reflected in lender's rate sheets yet, but the MBS prices support rate levels of late...
  • Keep Floating

    by Matthew Graham on February 29 2008, 7:58 PM
    MBS's are improving!
  • Ending The Week On A High Note

    by Matthew Graham on February 29 2008, 3:49 PM
    A high note for bond prices, that is, which as you know means lower rates yet again. Did you float with me? I hope so! we're improved by about 14/32nds today on the 5.5% coupon. The best thing about gaining ground today is not necessarily related to today...
  • Before the Dawn

    by Matthew Graham on February 29 2008, 12:44 PM
    I rarely (very rarely) comment on overnight and futures trading since when the markets open all the fluctuations from overnight are at moot point. But for what it's worth, we'll be starting out this morning from a position of strength. Mortgage Backed...
  • Finished Strong

    by Matthew Graham on February 29 2008, 12:31 AM
    Rates held their gains despite some mid-day fluffiness. In fact, we ended near our highs of the session. Hopefully we can extend the strength into tomorrow. I'm betting we will as I just past the lock cut-off time on a couple of my own loans. Roll the...
  • Heads Up! (Mid-Afternoon Update)

    by Matthew Graham on February 28 2008, 7:21 PM
    Due to some volatility in bonds, some lenders may conservatively reprice for the worse. Lock if you can't afford to lose any ground. But in general the price fluctuations are not drastic. Stay tuned for updates.
  • Don't Take The Bait!

    by Matthew Graham on February 28 2008, 4:47 PM
    From what I've seen coming across my desk this morning, lenders have not even begun to price the improvements into their rate sheets this morning. For instance, most lenders have improved by about .375% discount, whereas MBS are improved 22-32/32nds....
  • Yee Haw!

    by Matthew Graham on February 28 2008, 3:31 PM
    I tried to think of clever headlines for today's blog, but at the end of the brainstorming session "Yee Haw!" fit best. The Data: 1.GDP Real GDP - Quarter over Quarter Change Consensus 0.7 % Actual 0.6 % GDP price index - Quarter over Quarter Consensus...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.61%
  • |
  • 15 Yr FRM 4.04%
  • |
  • Jumbo 30 Year Fixed 4.65%
MBS Prices:
  • 30YR FNMA 4.5 104-05 (0-05)
  • |
  • 30YR FNMA 5.0 105-28 (0-02)
  • |
  • 30YR FNMA 5.5 107-05 (0-01)
Recent Housing Data:
  • Mortgage Apps -1.15%
  • |
  • Refinance Index -2.64%
  • |
  • Purchase Index 5.06%