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  • Opportunists Buying

    by Matthew Graham on March 18 2008, 7:37 PM
    We're already starting to see signs of the MBS picking itself up by its boot-straps. We're almost back to the floor we feel through earlier at 101-01. I'll update you by the end of the session to let you know if the trend continues.
  • Firmly Through the floor now

    by Matthew Graham on March 18 2008, 7:05 PM
    down in the 100-20 to 100-30 range. If for some stupid reason, your lender hasn't repriced yet, and their rates are in the market, go ahead and take advantage of them now. Who knows what will happen tomorrow, but I think we could recapture some of these...
  • stocks rally and bonds tank

    by Matthew Graham on March 18 2008, 6:56 PM
    we're dropping fast in MBS, if you have the rate you want, lock it.
  • Welcome to my world

    by Matthew Graham on March 18 2008, 6:40 PM
    Here's a tick by tick from the last 20 minutes: Now you try calling it! Still, we continue to look to be firmly settling into 101-07 range. Roughly the same price as when rates came out, maybe a little lower. But lenders were hedged a bit anyway. So it...
  • Somebody Catch That Chicken!

    by Matthew Graham on March 18 2008, 6:31 PM
    The price curves of all the markets look like the flight path of a chicken with its head cut off (assuming a chicken could fly). bouncy bouncy bouncy in the Dow and MBS. 10 year USTs improved about 9/32nds since last post. That could be good for MBS....
  • up to the minute2.........

    by Matthew Graham on March 18 2008, 6:26 PM
    10 year continuing to hold average levels. DOW moving down again. MBS ticked all the way down to 101-03 and is moving back up currently at 101-05.
  • Up to the minute...

    by Matthew Graham on March 18 2008, 6:21 PM
    10 yr UST continues to worsen. MBS's took a nose dive and are back to 101-10 Stocks rebounded to 12230's. no firm direction yet.
  • .75 point cut

    by Matthew Graham on March 18 2008, 6:16 PM
    some wording about inflation concerns. bonds are trying to figure out which way to go currently. Looks like it will be down in price and up in rate. This could change in 5 minutes though. Dow is tanking. rates may not get much love. 10 year UST has ticked...
  • The Gathering Storm

    by Matthew Graham on March 18 2008, 5:52 PM
    If you are watching the 10 year treasury today, you might have your head in the sand. MBS's have been steadily improving into this afternoon, with the 5.5% coupon at 101-15. Doesn't seem likely that lenders will reprice before big ben talks, so that raises...
  • Lots of Headlines, Little Change

    by Matthew Graham on March 18 2008, 1:10 PM
    We ended the day strong yesterday despite a late afternoon hump as the Dow decided to sell-off a bit and more Dealers jumped on the MBS bandwagon. The move higher was actually fairly pronounced in light of the data from the rest of the day. As such, we...
  • Morning Numbers

    by Matthew Graham on March 18 2008, 1:06 PM
    MBS Price Data Price Change FNMA 5.0 99-22 -0-10 FNMA 5.5 101-12 -0-05 FNMA 6.0 102-20 -0-10 FNMA 6.5 103-28 -0-07
  • Ok, get back in the water

    by Matthew Graham on March 17 2008, 8:54 PM
    A late day surge brought 5.5% coupons as close to 102-00 as they've been in quite a while. Float with the gains and let's see what tomorrow brings...
  • Graph and Comment

    by Matthew Graham on March 17 2008, 7:58 PM
    As you can see in the above chart, we have leveled off and even lost a bit in our upwards surge today. Highs dinged at about 101-14 and we are currently trading around 101-09 on the 5.5% coupon. Historically, we've broken through a ceiling, see below...
  • Prices Off Their Highs a Bit

    by Matthew Graham on March 17 2008, 7:47 PM
    Graph and Comment to Follow. The Ultra-Conservative play is to lock if you just got a price improvement (and I know some of you did). That particular lender's rate sheet has a significant amount of the market's gains priced in. And as it was released...
  • Be Careful....

    by Matthew Graham on March 17 2008, 5:17 PM
    MBS are shooting up nicely today. Lenders won't price all the gains into their sheets until the gains hold for a bit. Nonetheless we might see some very aggressive reprices very soon. Given the volatility of the market, although my general sentiment leans...
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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 (0-01)
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  • 30YR FNMA 5.0 109-09 (0-03)
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  • 30YR FNMA 5.5 110-06 (0-03)
Recent Housing Data:
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  • Refinance Index -2.20%
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  • Purchase Index -1.28%