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While benchmark interest rates continue to chop around in a contained range, mortgage-backed securities have moved sideways, failing to make much progress in either direction. Although we have experience a few moments of added volatility, tight trading ranges have kept and generally "topped out" MBS prices have kept mortgage rates stable all
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Trading action in the rates market yesterday was similiar to the previous session: early morning weakness, followed by a move higher in the lunch hour, which was then lost heading into the close. News and events were fairly positive for the fixed income sector which helped spark the move higher in price, however profit takers were quick to step in and
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In a volatile session, mortgage rates ended yesterday's session unchanged as a small rally in benchmark Treasuries helped support the MBS market. Following weaker than expected economic data in the morning, rates rallied. However as profit taking took place later in the day, early session strength was lost and MBS prices returned to opening levels
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Benchmark Treasury prices and mortgage-backed security prices rallied yesterday. AQ described the inner dynamics of the trade strategy that led to rate improvements READ MORE . In terms of the headline news catalyst for the rally in bond markets, some fixed income friendly verbiage from Federal Reserve Chairman Ben Bernanke gave us a boost late yesterday
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Over the past few month I have been using a very well defined strategy to gauge lock/float opportunities. The idea is to lock when mortgage backed securities approach their recent range's price highs, and float when MBS are near the bottom of their recent price range. This "play the range" strategy has worked very well for my clients,
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It was a busy day in the rates market yesterday. Although several data releases needed to be digested, the main event was the 30 year bond auction. Recently, while demand for shorter maturity Treasury notes has proven stable in the "post-November 4 FOMC statement" environment, the market has forced yields higher in the long end of the yield
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In honor of Veteran’s Day, the fixed income market was closed yesterday. A few lenders did issue rate sheets, most were priced conservatively, which is a common strategy on bank holidays. After a slow start to the week, we finally got some economic data to digest this morning. First out was the Mortgage Bankers’ Association’s Weekly
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While the dollar touched a 15 month low and stocks hit a fresh 13 month high yesterday, the bond market minded it's own business, quietly trading in a tight range, ending the session near the intraday price high/yield lows. This calm and collected recovery in benchmark rates helped prices of mortgage backed securities move slowly but steadily higher
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Despite benchmark Treasury rates moving higher last week, prices of mortgage-backed securities managed to hold their ground, allowing mortgage rates to maintain status quo in their recent range. To remind readers, as prices of mortgage-backed securities move higher, lenders are able to pass along lower mortgage rates. After the FOMC meeting and the
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Mortgage rates continued to hold steady yesterday as prices of mortgage backed securities slowly inched higher yesterday. AQ and MG were discussing the supply and demand dynamics of the MBS market yesterday, citing several reasons for the stable range being held by MBS coupons, even as benchmark 10 year Treasury rates held near recent highs. HERE is