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  • prices falling bit

    by Matthew Graham on March 07 2008, 5:57 PM
    5.5% coupon about 10 ticks lower in the last 10 minutes. You may not need to lock just yet, but be aware of the downswing. Certain lenders have not even repriced the initial improvements into rates yet. But have lock sheets at the ready if you do decide...
  • Nice Big Reversal

    by Matthew Graham on March 07 2008, 4:06 PM
    Quite the drastic up-tick just now as 5.5's and 6.0's have climbed nearly ten ticks in 5 minutes. We're back to float float float. But to stay tuned and ready to lock!
  • Ticking Down

    by Matthew Graham on March 07 2008, 3:34 PM
    We've Pared some gains currently and have slid 4 ticks on both the 5.5 and the 6.0. Have those lock sheets at the ready today. I'm assuming most lenders will wait for a portion of this volatility to die down before releasing rates though. But if you are...
  • Holding Gains So Far

    by Matthew Graham on March 07 2008, 1:51 PM
    The 5.5% coupon is holding around 19-20/32nds improved on the day and the 6% coupon about 8 ticks less. We're not seeing a catastrophic race among traders to buy mortgage bonds, but at least they are not pouring gas on them and setting fire to them as...
  • Get out your water wings!

    by Matthew Graham on March 07 2008, 1:32 PM
    Dismal Jobs! February Payrolls down 63,000 MUCH worse than expected, PLUS, for the first time in months, we break the trend and get a downward revision on January of -22,000. Enjoy the float...
  • Any Minute Now

    by Matthew Graham on March 07 2008, 1:30 PM
    MBS's ticking higher... Today could be our day...
  • Morning Preview .............. 7:51 AM EST

    by Matthew Graham on March 07 2008, 12:51 PM
    Today's the day for a bounce back on MBS prices. That's more of a hope than a promise. We have the always impactful employment situation on tap for today (coming up in about half an hour), and consumer credit at 2pm. Here are the estimates for the day...
  • Wow! Look at the 10 Year Note!

    by Matthew Graham on March 06 2008, 10:03 PM
    I can see it now... Mortgage offices all over the country were watching the 10 year bond improve today thinking rates were fine. Did you pay attention to the blog? Wow! Look at that MBS deteriorate! We're down 20-25/32nds at the close today. Floating...
  • prices tanking

    by Matthew Graham on March 06 2008, 7:29 PM
    well below the trend line now. lock...
  • prices falling

    by Matthew Graham on March 06 2008, 7:03 PM
    Prices are ticking down right now. Lock if you're cautious.
  • Stay cautious

    by Matthew Graham on March 06 2008, 6:17 PM
    price worsening not likely, but we are testing the low line on our upward trend today. So improvement may not be coming either. stay tuned (sorry for all the communication, but things are very active right now)
  • Holding the line in active trading

    by Matthew Graham on March 06 2008, 5:58 PM
    lots of trades coming in currently as profit-takers (day traders selling MBS because they are near highs of the day) battle it out with some increased demand among buyers today. We haven't broken through the trend line yet, so take a deep breath and keep...
  • slight down-tick

    by Matthew Graham on March 06 2008, 5:45 PM
    trend line has paired some gains in the last 10 minutes. we haven't crossed the lower trend channel line yet, but we are right there. But prices have dropped 3-4 32nds in 5 minutes, so floating can be becoming risky unless this reverses and heads back...
  • Intraday Float

    by Matthew Graham on March 06 2008, 4:49 PM
    This morning's post didn't have a strong stance on lock versus float. We are trending upward currently on 5.5 MBS. If you are able to check back with this site frequently today, I'm moving the recommendation to a strong float. The spreads between the...
  • Another Day, Another Higher Rate

    by Matthew Graham on March 06 2008, 8:08 AM
    The Data: 1. Jobless Claims: Expectation: 360k ...............Actual 351k Impact: This is not much of a deviation from expectations. Furthermore, even though this read is slightly better than expected, the total number of claims remain high historically...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.94%
  • |
  • 15 Yr FRM 4.44%
  • |
  • Jumbo 30 Year Fixed 4.57%
MBS Prices:
  • 30YR FNMA 4.5 102-21 (0-09)
  • |
  • 30YR FNMA 5.0 104-16 (0-08)
  • |
  • 30YR FNMA 5.5 106-09 (0-02)
Recent Housing Data:
  • Mortgage Apps 0.03%
  • |
  • Refinance Index -0.10%
  • |
  • Purchase Index 0.12%