Mortgage Rates Updates

Dropping A bit (again)

Fri, 9 May 2008 11:36:00 EDT

We're down to 100-24 on the 5.5% which is the territory where lenders might consider repricing for the worse.

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More Volatility

Fri, 9 May 2008 08:41:00 EDT

We're now back on top of positive territory, but just slightly. There is a resistance level at 100-24 that was established this morning. So you're safe to float again...

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Even after Lenders Release Pricing, MBS Dropping

Fri, 9 May 2008 07:45:00 EDT

The trend suggests locking if you got rates more then 10 minutes ago.

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Nose Dive

Fri, 9 May 2008 06:44:00 EDT

MBS prices are now in negative territory on the day, a huge swin from 10 minutes ago. If by some miracle you have rates already or have 24 hour lock ability. Lock 'em up. That's the safest play at least.

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Good Morning and Good Morning

Fri, 9 May 2008 06:18:00 EDT

That was both a salutation and descriptive phrase for the MBS market. Trading is pretty heavy at the moment and we're anywhere from 4-7/32nds improved over yesterday bringing the 5.5% coupon the big leagues at 101-00.

Just one economic release today, International Trade, showed a better than expected level of exports. This is not a major mover of the MBS market. The move...

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At the Highs of the Day

Thu, 8 May 2008 12:24:00 EDT

the 5.5% coupon is at 100-29 currently, which means we will be seeing a handful of the most aggressive lenders offering 5.5% 30 year fixed conforming at PAR or better. Reprices for the better should be coming if we hold over 100-28 for 30 more minutes.

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Reprice Risk Waning

Thu, 8 May 2008 10:16:00 EDT

Even though the 5.5% coupon made it all the way down to 100-22, we pulled a bit and have leveled off around 100-25, which probably will prevent any reprices that have not already hit. I think, based on the graph that the secondary market will be looking for a reasonable amount of time under the 100-23 level before repricing for the worse. We're safe, for now.

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off the highs of the day

Thu, 8 May 2008 08:53:00 EDT

the 5.5% had dropped from 100-29 down now to 100-24. This may prompt some lenders that priced aggressively or around the 11AM time frame to reprice for the worse very soon.

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