Showing related tags and posts accross the entire site.
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Day traders dominating price action. Short covering drove the morning rally. Short selling dictating directionality now. Gappy jumps in yield are highly indicative of slow, illiquid trading environment. Welcome to year-end on Wall Street.
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10yr note got gappy after the Fed latest QEII POMO. Short sellers drove the early AM bid. However once the Fed was out of the market iIt became apparent that there was no real$ buyer to add support to the overnight rally.
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down 10 ticks on the day now to 98-17 in fannie 4.0's. Reprices for the worse seen at many lenders. FOMC announcement expected to be a market mover at 215 eastern
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at 3.38 now, the 10yr note yields is 4 bps over the 3.34 support seen yesterday. FOMC statement will either keep it at these levels or higher, OR if it falls below these levels, I'd guess it's headed back down to 3.34.
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Mortgage rates greatly benefited from headline news yesterday. Around mid-morning we learned that Standard and Poor's had cut Greece's government debt rating all the way down to junk. That is as low as ratings go! Stocks, which have rallied for eight consecutive weeks, sold off sharply on the...
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CNBC "broke news" this morning that 6 of 10 FOMC members allegedly believe it would be wise to begin selling their mortgage holdings....in the "near term". First of all we've heard this RUMOR before and we'll probably hear it again. Unfortunately it didn't make much sense...
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Mortgage rates have been under fire lately as a streak of positive economic data has forced benchmark Treasury yields higher resulting in lower mortgage-backed security prices. These MBS price depreciations have forced lenders to increase mortgage rates. This continued yesterday with another round of...
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A steady rally in benchmark Treasury yields yesterday helped prices of mortgage backed securities move to five month highs which allowed lenders to keep mortgage rates near five month lows. The major event that took place in the rates market yesterday was the Treasury auction of $20 billion in 10 year...
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Mortgage rates were mostly unchanged yesterday as the economic calendar was empty and the market settled in for another FOMC statement. Prices of mortgage-backed securities did manage to move marginally higher following a successful auction of 2 year Treasury notes, which saw the highest demand in over...
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It was an up and down week for mortgage backed securities last week. Despite better than expected economic data, MBS didn’t give up too much ground and mortgage rates did manage to dip to 4.75%. However by week’s end, rates had risen to 4.875% for the best qualified consumers. To remind readers...