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  • after the bell.

    by Matthew Graham on May 06 2008, 8:13 PM
    Strong earnings out from Disney after the bell are causing selling in fixed income. More reprices for the worse could be coming soon. If you think this positive sentiment in stocks may continue into tomorrow, then tonight is a good time to lock, if you...
  • Slight Drop

    by Matthew Graham on May 06 2008, 4:32 PM
    the 5.5% coupon is down about 4/32nds from the highs which may prompt a mid-day reprice for the worse from most lenders that have already released rates this morning.
  • Slight Improvement Over Yesterday with Limited Data

    by Matthew Graham on May 06 2008, 1:14 PM
    The Only Scheduled Economic Releases for Today are Store Sales which have shown a week over week decline of .2% bringing the year over year change down to 2.3%, more signs of a weakening American Consumer. In a related release, the Redbook index showed...
  • Holding Steady For Now

    by Matthew Graham on May 05 2008, 4:36 PM
    Despite some ups and downs, MBS is steady currently with the 5.5% down 4/32nds on the day at 100-13. MBS are still tracking relatively well with treasuries and the stock market. This blog will not be updated for a while as you will just be able to look...
  • Some Rebound

    by Matthew Graham on May 05 2008, 3:02 PM
    With no economic data or mortgage related headlines of note, the stock market is exerting some forces on the MBS market. With the Dow down over 100 points right now, MBS have rebounded a bit with the 5.5% coupon back up 100-13. That's only an eighth in...
  • Starting to See Some Noise (the unpleasant kind)

    by Matthew Graham on May 05 2008, 2:07 PM
    This old economy of ours seems to think it is going to make a run at pulling out of this recession. The ISM Non-MFG Survey index leaped to an unexpectedly high 52.0, appreciably higher than the 49.3 expectation. In addition, stocks are paring their earlier...
  • Quiet Monday Morning for MBS

    by Matthew Graham on May 05 2008, 12:59 PM
    This will just be a prologue for the rest of the day. MBS is dead even on the day so far as we wait for the stock market to open and for the moderately important ISM non-manufacturing survey index. ISM is the only scheduled data for today, so the stock...
  • And We're Back Down Again

    by Matthew Graham on May 02 2008, 7:48 PM
    Apparently the MBS rally was too good to last. We've given back all of our gains from earlier this afternoon, with the 5.5% coupon back down to 100-13. Locking is in order unless you are floating into next week.
  • Graph of Today's Action

    by Matthew Graham on May 02 2008, 6:00 PM
    (yes, Graphs are back!) As you can see, we had the major drop after the NFP announcement early this morning. Not much change from the 2nd round of data from the day, and we can see MBS now fighting to move higher as stocks have lost ground on the day...
  • rebounding...

    by Matthew Graham on May 02 2008, 5:30 PM
    We've come up off the lows from earlier this morning and are now only about 4/32nds negative on the day which should be good for some reprices for .125, as long as we hold current levels. More aggressive lenders, or those that over-hedged this morning...
  • What's in the Kool-Aid at the BLS?

    by Matthew Graham on May 02 2008, 1:22 PM
    It was supposed to be a nice morning in the pool, but then, of all things, a giant shark shows up and takes a bite out of the fun. Who would have guessed? A bumble bee I could see, but how did a shark get in this pool? Sometimes the economic releases...
  • NFP MUCH BETTER THAN EXPECTATIONS

    by Matthew Graham on May 02 2008, 12:40 PM
    TGIF does not apply today--not when we've just been blindsided by a crushingly positive Non-Farm Payrolls number. The consensus was for an 80k job loss, and we only lost 20k! To make matters worse, unemployment fell appreciably. If you have access to...
  • Locking is safest, But Floating Beckons

    by Matthew Graham on May 01 2008, 9:22 PM
    We ended the day 4/32nds ahead of yesterday. But this was almost 10/32nds off the highs of the days. Whether you choose to lock now or not will depend on your estimation of tomorrow's data. NFP is anticipated at 75k negative. Personally, I think it will...
  • Back To Floating

    by Matthew Graham on May 01 2008, 6:21 PM
    If you did, in fact, see your reprices for the worse, and that should be most every lender, then floating is once again in order. We've come up off the lows a bit with the 5.5% coupon at 100-21. At it's lowest, we say 100-16. Wall Street is mum on the...
  • heavy trading, prices tanking

    by Matthew Graham on May 01 2008, 5:01 PM
    we've dropped off the face of the earth as the 5.5% coupon has actually turned negative on the day. I would advise locking immediately just to be on the safe side.
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.88%
  • |
  • 15 Yr FRM 3.69%
  • |
  • Jumbo 30 Year Fixed 3.90%
MBS Prices:
  • 30YR FNMA 4.5 104-12 (0-03)
  • |
  • 30YR FNMA 5.0 105-13 (0-03)
  • |
  • 30YR FNMA 5.5 106-19 (0-11)
Recent Housing Data:
  • Mortgage Apps -2.47%
  • |
  • Refinance Index -2.02%
  • |
  • Purchase Index -2.63%