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  • Languishing near unchanged

    by Matthew Graham on March 26 2008, 5:41 PM
    MBS can't seem to pick up enough steam to get back up the hill. More conservative lenders may reprice an eighth or so for the worse. That's about a 50/50 shot, maybe less. If you're convinced of poor economic data tomorrow, floating still makes sense...
  • Coming back now

    by Matthew Graham on March 26 2008, 5:10 PM
    The cliff had a shallow floor and we're still positive on the day 4/32nds. If you didn't see your reprice yet, floating again is likely an acceptable risk.
  • off a cliff...

    by Matthew Graham on March 26 2008, 4:52 PM
    strong potential for a negative reprice unless we turn a corner right away.
  • a bit more pronounced now

    by Matthew Graham on March 26 2008, 4:39 PM
    another 3/32nds hit in the last 5 minutes. I hate to do so, but locking now may avoid a potential reprice today, even ahead of potentially improving rates tomorrow.
  • Just a head's up

    by Matthew Graham on March 26 2008, 4:27 PM
    We've pared about 4/32nds from our highs of the morning. Normally wouldn't even be worth mentioning, but since the highs coincided with the time frame that many lenders priced this morning, some of the more conservative types may sneak in a .125 YSP price...
  • Durable Goods Orders Fall, MBS Advances

    by Matthew Graham on March 26 2008, 1:12 PM
    Relevant Data For Today: Durable Goods, which were expected to rally by 0.7% actually lost 1.7%. This is significantly weaker than expected and another feather in the cap of the big, bad, recession wolf. Too bad for the economy yes, but generally speaking...
  • Morning Pricing

    by Matthew Graham on March 26 2008, 1:03 PM
    MBS Price Data Price Change FNMA 5.0 99-01 / 01 +0-08 FNMA 5.5 100-29 /30 +0-07 FNMA 6.0 102-10 /11 +0-04 FNMA 6.5 103-15 /15 +0-02
  • another update

    by Matthew Graham on March 25 2008, 4:34 PM
    Just trying to keep you up to the minute here. The price curve appears to be dipping again (potentially not-stabilized). If you're not a risk-taker, or even if you are but just don't want to be, locking makes sense now. If the economic data for the rest...
  • Sliding A Bit

    by Matthew Graham on March 25 2008, 4:22 PM
    We're down to 100-21 in the 5.5%. If your lender was out with prices earlier this morning, they may reprice for the worse soon, but will likely wait to see if this slide stabilizes. As of now it seems that it has, but every lender will respond differently...
  • MBS's Reacting

    by Matthew Graham on March 25 2008, 2:13 PM
    MBS Price Data Price Change FNMA 5.0 98-30 /30 +0-13 FNMA 5.5 100-27 /27 +0-08 FNMA 6.0 102-09 /09 +0-05 FNMA 6.5 103-15 /16 +0-02 By the time this post hits, the prices will probably have gained some more. Just so we're clear, the hi/lo/med forecast...
  • Holy Weak Consumer Batman! 64.5!

    by Matthew Graham on March 25 2008, 2:02 PM
    In late breaking news, the consumer confidence index read at a level of 64.5, down from 75.0 last month. These numbers have not been seen for many many years and are in line with what economists have considered previous recessions in the US.
  • On Your Marks... Get Set.... Wait For It... Wait For It...

    by Matthew Graham on March 25 2008, 1:06 PM
    After the MBS markets "fizzled out" yesterday, change may be on the wind. Indeed, this morning, there are several factors that point to a potentially good day for MBS. The relatively unimportant ICSC Store Sales Numbers showed a .4% decrease month over...
  • A little improvement

    by Matthew Graham on March 25 2008, 12:55 PM
    Here are the numbers so far this morning. Comment to follow in 2nd post... MBS Price Data Price Change FNMA 5.0 99-26 /27 +0-09 FNMA 5.5 100-24 /25 +0-06 FNMA 6.0 102-07 /08 +0-04 FNMA 6.5 103-14 /15 +0-01
  • back down again in the 5.5

    by Matthew Graham on March 24 2008, 7:12 PM
    We're back at 100-15/32nds making locking for those that were condsidering it the safe choice for today. However, the important mitigating factor is that spreads to the 10 year treasury are high on the day which might prevent some lenders from repricing...
  • Dialing Back The Pain

    by Matthew Graham on March 24 2008, 6:14 PM
    For those of you "on a fence" about locking today, we have pulled back from the brink as the 5.5% MBS began a push towards a 100 basis point loss on the day. We're currently at 100-18 /19 on the 5.5% coupon, a lost off 26/32nds on the day. You may be...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 2.94%
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  • 15 Yr FRM 2.64%
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  • Jumbo 30 Year Fixed 3.95%
MBS Prices:
  • 30YR FNMA 4.5 107-15 (0-00)
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  • 30YR FNMA 5.0 109-09 (0-00)
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  • 30YR FNMA 5.5 110-06 (0-00)
Recent Housing Data:
  • Mortgage Apps -1.84%
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  • Refinance Index -2.20%
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  • Purchase Index -1.28%