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  • 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...
  • ending the day strong

    by Matthew Graham on February 27 2008, 9:37 PM
    Looks like we are going to push to the highs of the day as MBS trading closes. The 5.5 coupon is up 20/32nds! That's it's highest level of the day and has been a technical "ceiling" that has enticed bond holders to sell earlier in the day. Volume reports...
  • Still Fighting the Good Fight

    by Matthew Graham on February 27 2008, 7:43 PM
    Keep you lock sheets handy, but it looks like he are holding a trend on the technical line of improvement still! In easier to understand terms: The line that graphs MBS prices today has been up and down, but if one were to plot points each time the line...
  • Back and Forth a bit, but Holding Gains

    by Matthew Graham on February 27 2008, 5:29 PM
    After the Fannie and Freddie News (regulator lifted their investment caps), the MBS slipped about 5-7/32nds across the board. They have recouped most of those losses and since those losses were from their highest point of the day, that leaves us in great...
  • CHARGE!!!!!!

    by Matthew Graham on February 27 2008, 4:13 PM
    The epic battle of the week between economic weakness and inflation rages on today. Yesterday inflation had some wind taken out of it's sails and Mortgage Backed Securities (MBS) advanced nicely. As we discussed, yesterday's PPI data was the only major...

    by Matthew Graham on February 26 2008, 7:39 PM
    As officials from the FED comment that the economic slowdown is more of a concern than inflation, mortgage bonds are reacting favorably. Expect more price improvements to come soon.

    by Matthew Graham on February 26 2008, 5:19 PM
    Fed Vice Chairman Donald Kohn spoke just now and had 3 important things to say that will impact mortgage rates: 1. Rate Cuts won't prevent near term economic weakness 2. Return to growth will "take a while" 3. Most importantly, he does not expect recent...
  • Mortgage Backed Securities Fight Inflation

    by Matthew Graham on February 26 2008, 2:58 PM
    Perhaps it's due to yesterday's sell off, or perhaps there is support from weak economic data, but even in the face of dismal inflation data, MBS are holding steady on the day. the 5.5% coupon is actually trading up right now by 6/32nds. This is truly...
  • Bond Insurer Rescue Plan Continues to Pressure Mortgage Rates

    by Matthew Graham on February 25 2008, 9:14 PM
    As was anticipated, more details were released today regarding the proposed bailout for AMBAC, one of the largest bond insurers. Bond insurers like AMBAC, FGIC, and MBIA are crucial to the economy and thus mortgage rates. Big investors have an interest...
  • A New Week and Some New Hope? .............. Feb 25th

    by Matthew Graham on February 25 2008, 3:08 PM
    In case you were on vacation Friday, there was a huge sell-off in the bond market. This was caused by newsthat a plan would soon be announced to "bail out" AMBAC, a huge bond insurer. We would hope, that after such a crushing blow to rates that we would...
  • Ouch

    by Matthew Graham on February 22 2008, 6:21 PM
    Bonds are dropping off the face of the earth. Lock if you can get your sheets in quickly enough.
  • Hey Old Dogs! Don't be fooled!

    by Matthew Graham on February 22 2008, 5:42 PM
    If you're an industry "Old Dog," you may be watching the 10 year treasury right now thinking rates might improve. Most days the 10 year does move in relative unison with MBS's, but not today. The T-bill is up in price a hefty 12/32nds, but the Fannie...
  • Bond Prices Falling ......................... 7:53 AM PST

    by Matthew Graham on February 22 2008, 3:52 PM
    If you have rate sheets out already today and they look good, be advised that MBS prices have dropped rapidly in the last 10 minutes. If you don't want to wait it out to see if it reverses, you may want to lock now. Still early in the morning to say for...
  • Mortgage bonds holding yesterday's gains

    by Matthew Graham on February 22 2008, 3:26 PM
    There is no scheduled economic report set to release today. As such, the stock market and news headlines will cause market movements today. MBS prices opened high at 99-25/32nds, rapidly shot down 10/32nds, and now have recovered somewhere around 99-18...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.66%
  • |
  • 15 Yr FRM 4.12%
  • |
  • Jumbo 30 Year Fixed 4.69%
MBS Prices:
  • 30YR FNMA 4.5 104-00 (0-02)
  • |
  • 30YR FNMA 5.0 105-21 (-0-01)
  • |
  • 30YR FNMA 5.5 107-08 (0-05)
Recent Housing Data:
  • Mortgage Apps -2.60%
  • |
  • Refinance Index -3.69%
  • |
  • Purchase Index -1.98%