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  • 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...
  • Keep Your Water Wings On

    by Matthew Graham on March 17 2008, 3:27 PM
    We'll be floating, at least for a while as it's up, up, and away for MBS. MBS Price Data Price Change FNMA 5.0 98-26 +1-03 FNMA 5.5 100-27 +0-27 FNMA 6.0 102-11 +0-20 FNMA 6.5 103-19 +0-11
  • What A Weekend!

    by Matthew Graham on March 17 2008, 12:49 PM
    MBS Price Data Price Change FNMA 5.0 98-12 /13 +0-24 FNMA 5.5 100-18 /19 +0-19 FNMA 6.0 102-06 /06 +0-16 FNMA 6.5 103-14 /16 +0-07 You might not be able to ask for a more action packed weekend for the financial markets: - Chase buys Bear Stearns for ...
  • Bonds Sliding Again

    by Matthew Graham on March 14 2008, 7:26 PM
    Now staying under 100-00 on the 5.5% coupon. If you haven't locked yet, now may be the time as additional reprices for the worse are potential.
  • What about mid to long term?

    by Matthew Graham on March 14 2008, 5:32 PM
    The caveat on this: Consider this speculative opinion. In other words, don't make lock/float decisions based on this commentary. I'm just sharing my take on Bernanke's recent speech. I'm liking our prospects for mid to long term rates because from an...
  • Too Shakey!

    by Matthew Graham on March 14 2008, 3:36 PM
    Floating can still pay off for risk takers, but locking now would take this volatility risk out of the market. For 3 seconds, we ticked below 100-00. If we dip there again, price worsening is likely. Moreover, unless we tick up appreciably, additional...
  • Dipped Below 100-05

    by Matthew Graham on March 14 2008, 3:09 PM
    Albeit briefly, the price curve on the 5.5% dipped blow 100-05 for about 25 seconds, we're back up at 100-07 now. Wow! It's volatile! Be ABSOLUTELY READY FOR ANYTHING! That means lock sheets should be in hand. Again, if your lender hasn't released pricing...
  • WILD!

    by Matthew Graham on March 14 2008, 2:45 PM
    Volatility is out of control in MBS's. Just after 9AM, the 5.5% coupon almost touched 101-00!!!!! It is now down to 100-06/07 So, if your lender already released rates, and especially if your rate sheet hit before 9:30 AM but after 9AM, you probably won...
  • Alert 1

    by Matthew Graham on March 14 2008, 1:23 PM
    I hate to be getting back to you so soon, but we just "took a dip." Don't be concerned yet, we're still far better than yesterday. The 5.5% line just hit 100-04. This is likely due to early morning "profit takers" selling their MBS holdings. I'm setting...
  • Good Day, Sunshine!

    by Matthew Graham on March 14 2008, 12:46 PM
    It doesn't matter where you live, today is a sunny day for mortgage pricing. Oh that CPI! We had hoped that inflation would read lower than expected, and it did! February's Consumer Price Index, the economy's broadest measure of inflation dropped.3% with...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 2.92%
  • |
  • 15 Yr FRM 2.62%
  • |
  • Jumbo 30 Year Fixed 3.95%
MBS Prices:
  • 30YR FNMA 4.5 107-14 (-0-00)
  • |
  • 30YR FNMA 5.0 109-02 (-0-03)
  • |
  • 30YR FNMA 5.5 109-25 (-0-12)
Recent Housing Data:
  • Mortgage Apps 2.24%
  • |
  • Refinance Index 0.44%
  • |
  • Purchase Index 5.34%