Fri, Nov 26 2010, 1:18 PM
Recent choppy movements in bond markets are trying to trick you. They want you to believe that something important has CHANGED. While I wholehearted...
Wed, Nov 24 2010, 12:28 PM
The bond market lost it's bid and offer prices were pushed lower and lower to attract buyers. And just like that...poof...three days of positive progr...
Wed, Nov 24 2010, 12:15 PM
Lender "Skin in the Game"; More on Freddie's Fee Increase; New Mortgagee Letters; Sponsored FHA Originators; Investor Bulletins
Wed, Nov 24 2010, 11:37 AM
The increase in purchase applications last week aligns with other incoming data suggesting that consumers are feeling somewhat more confident with the...
Wed, Nov 24 2010, 11:00 AM
We are seeing a complete repricing in the bond market at the moment with weakness really taking flight following 830 econ data. Loan pricing is especi...
Wed, Nov 24 2010, 10:46 PM
A moderate recovery to what seemed like decently aggressive loan pricing over the past three days was wiped out in a matter of minutes today.While tha...
Wed, Nov 24 2010, 8:27 AM
Interest rates are giving back yesterday's flight to safety rally and equities are recovering this morning after a rout that pushed the major indexes ...
Wed, Nov 24 2010, 2:09 PM
The U.S. Census Bureau and the Department of Housing and Urban Development have jointly released NEW RESIDENTIAL SALES for October 2010.
Wed, Nov 24 2010, 1:19 PM
10s and 30s down over a full point in price now. 10s yielding 2.905%. 2s/10s curve back over 236 pivot at 238bps wide. Cash FNCL 4.0s -21/32 at 101-04...
Tue, Nov 23 2010, 11:52 AM
Freddie Mac Hikes Fees on Higher Risk Loans; DU 8.2 Update Coming Soon; Fraud in the Mortgage Business; Free Refi Offer from Chase?
Tue, Nov 23 2010, 11:36 AM
Following two months of gains, Existing Home Sales Decline in October, casting doubt on the notion that the previous two months of gains constituted t...
Tue, Nov 23 2010, 9:56 AM
The Federal Housing Finance Agency, which oversees the Federal Home Loan Banks, has published a proposed rule for comment that would permit and regula...
Tue, Nov 23 2010, 8:44 AM
The BEA has released Q3 Preliminary GDP data. The GDP estimates released today are based on more complete source data than were available for the adva...
Tue, Nov 23 2010, 8:21 AM
The risk trade is off this morning, the yield curve is bull flattening and "rate sheet influential" benchmarks have broken a key resistance level. Tw...
Tue, Nov 23 2010, 6:04 PM
Plain and Simple Recap: "In their discussion of the economic situation and outlook, meeting participants generally agreed that the incoming data indic...
Tue, Nov 23 2010, 5:31 PM
Looking back at the distribution of lender pricing offerings over the past two weeks, we've been overwhelmed by volatile movements and knee jerk react...
Tue, Nov 23 2010, 2:18 PM
Rate sheet influential MBS coupons are 9/32 off their price highs. This may prompt some lenders to reprice for the worse.
Tue, Nov 23 2010, 1:57 PM
Well. If there was anytime to say the indirect bid reflects overseas bidder interests, now would be the time. Indirect accounts were awarded a 20-auct...
Mon, Nov 22 2010, 12:41 PM
Rate sheet influential MBS prices are trading higher this morning and lenders have passed along some love.
Mon, Nov 22 2010, 11:50 AM
The big story for global financial markets today is the EU/IMF's 80-90 billion euro bailout for Ireland. WARNING: this whole "Ireland thing" is not y...
Mon, Nov 22 2010, 9:54 AM
Basel III Bank Capital Shortage; Recent ARM Stats; HAMP Running Out of Applicants; High Cost Loan Limits; Investor Updates
Mon, Nov 22 2010, 9:10 AM
Limits for most government-involved loans have been set for the coming year. Despite substantial losses in home values nationwide, the loan limits ar...
Mon, Nov 22 2010, 8:34 AM
Interest rates are rallying after the market heard news that Ireland's Prime Minister Brian Cowen had asked for and will receive financial assistance ...
Mon, Nov 22 2010, 6:11 PM
Monday's trading of mortgage backed securities (MBS), which most closely dictate loan pricing offered by lenders, brought welcome changes in the scope...
Mon, Nov 22 2010, 2:55 PM
We don't want to get ahead of ourselves during a holiday shortened trading week, but this choppy price action does offer a few glimmers of hope....mos...
Mon, Nov 22 2010, 1:12 PM
The 2s/10s curve is steeper as dealers distribute 2s while the "getting is good". 10s seem to have printed a local high price and are now retesting th...
Fri, Nov 19 2010, 11:40 AM
Prices of front month FNCL 4.0 are down 1 tick at 101-17+. This follows an afternoon rally yesterday that brought them to nearly 101-24 this morning....
Fri, Nov 19 2010, 10:04 AM
JPM Offloads Chunk of Servicing; HUD's Good Neighbor Next Door; Ambac Buyback Claims; Freddie Appraisal Quality; DU Version 8.2
Fri, Nov 19 2010, 9:44 AM
The MBA's quarterly delinquency survey noted improvements in many areas, with overall delinquency rates down for most loan types. Foreclosure starts,...
Fri, Nov 19 2010, 8:24 AM
Investor focus is likely to remain on foreign events and speeches today, as no significant economic data is scheduled for release, this implies we sho...
Fri, Nov 19 2010, 5:04 PM
Despite the anticipation for sluggish growth into the first part of 2011, Fannie Mae, in their November 10th Economic Outlook, sees GDP growth driven...
Fri, Nov 19 2010, 4:48 PM
The movements of mortgage rates higher and lower throughout the week have become progressively more tame. There was almost an entire point of differe...
Fri, Nov 19 2010, 4:33 PM
The joint HUD, Treasury Housing Scorecard showed that the number of borrowers entering the HAMP program has slowed as has the rate of conversion from ...
Fri, Nov 19 2010, 3:10 PM
We're long overdue a look at loan pricing. I have charted loan pricing on 4.00%, 4.25%, and 4.50% note rates going back to late June.
Fri, Nov 19 2010, 2:41 PM
Naturally, many billions of extra dollars flowing into the bond market are going to cause movements, and we'll see the extent of those in the charts t...
Thu, Nov 18 2010, 12:40 PM
A good way to fend off an unwelcome call from your warehouse lender is to review your scorecards often and address issues quickly. It is always bette...
Thu, Nov 18 2010, 12:02 PM
In prepared testimony for a House committee hearing, Acting Comptroller of the Currency John Walsh said that MERS and LPS will join eight servicers in...
Thu, Nov 18 2010, 11:59 AM
FHFA released its Performance and Accountability Report which indicated that it met only 12 out of the 25 performance measures outlined in support of ...
Thu, Nov 18 2010, 10:07 AM
We've been talking a lot about bearish technical biases in the bond market lately. Besides needing to overcome that rally resistance we've also been ...
Thu, Nov 18 2010, 10:03 AM
Initial Jobless Claims released this morning at 830am showing a small 2k increase from 437,000 last week. The 439k was basically dead on with consens...
Thu, Nov 18 2010, 9:50 AM
Even More Info on Originator Compensation; Securitization Flow Chart; Tax Deductible PMI; Bank Stress Tests Back
Thu, Nov 18 2010, 8:24 AM
Treasuries were mixed on Wednesday, with short maturities gaining a bit of ground while prices for longer assets dropped. The 7- and 10-year maturiti...
Thu, Nov 18 2010, 5:20 PM
What a frustrating week it has been for anyone trying to make sense of the movements in mortgage rates or those hoping to get ahead of the market in o...
Thu, Nov 18 2010, 2:23 PM
A common theme this week has been the near certainty of choppy and volatile movement in between the extremes of recent ranges. The past few hours hav...
Wed, Nov 17 2010, 12:40 PM
Data on building permits, housing starts, and housing completions in October was released today by the U.S. Census Bureau and the Department of Housi...
Wed, Nov 17 2010, 10:53 AM
The weekly Mortgage Bankers Association report on mortgage application activity for the week shows mortgage rates up sharply with some upward adjustme...
Wed, Nov 17 2010, 9:47 AM
Both CPI and Housing starts this morning. Market reaction, if there even is one, has been favorable so far this AM. The slight undertone of resignat...
Wed, Nov 17 2010, 8:26 AM
Two keys events will hit the market this morning, the consumer price index and housing starts. In addition, General Motors is expected to raise more t...
Wed, Nov 17 2010, 5:07 PM
At about 11am yesterday, prices of the Mortgage-Backed-Securities most closely tied to rate sheets had bottomed out and began to climb, reaching highs...
Wed, Nov 17 2010, 4:18 PM
Some parts of the bond market are indeed merely APPROACHING their worst levels of the day, while others are already there. Stocks are fairly flat, an...
