Wed, May 19 2010, 6:16 PM
4.5's closed up 1 tick at 101-31. 3pm marks were at 102-00. Treasuries were effectively unchanged from 3pm marks at 3.37, but 5pm to 5pm, yields bac...
Wed, May 19 2010, 5:55 PM
It was another volatile day for both stocks and interest rates. The ups and downs in the market forced lenders to reprice for the worse, and allowed l...
Wed, May 19 2010, 3:28 PM
Jay Brinkmann, Chief Economist for MBA says, "The issue this quarter is that the seasonally adjusted delinquency rates went up while the unadjusted ra...
Wed, May 19 2010, 2:31 PM
The Federal Reserve has released the Minutes of the Federal Open Market Committee Meeting held on April 27-28, 2010. MBS are steady after the FOMC min...
Tue, May 18 2010, 11:19 AM
Defending The Mortgage Industry From Generalizations; New HUD Mortgagee Letter; HAMP Data; TB&W Chairman in Trouble; Quicken Loans
Tue, May 18 2010, 10:26 AM
Watch for the Euro, which has been gaining ground all morning, to reverse course and begin losing value against the dollar again. If this happens stoc...
Tue, May 18 2010, 8:19 AM
As global support continues to grow for Greece, nerves are calming and investors are willing to buy again. Overnight, Greece received a €14.5 billion ...
Tue, May 18 2010, 6:48 PM
Mortgage rates looked like they were going to move up today as stocks were indicated to open higher before the lenders published rate sheets. However ...
Tue, May 18 2010, 5:33 PM
Very strong afternoon for bonds, and in decent volume as well. Primarily however, there remains an air of global uneasiness, if not panic, that is go...
Tue, May 18 2010, 3:28 PM
The uptick in Housing Starts was expected as last minute buyers rushed to finalize sales contracts before the homebuyer tax credit expired on April 30...
Tue, May 18 2010, 2:55 PM
After a strong open, the value of the Euro fell which pulled stocks lower and forced another flight to quality into risk-free Treasuries. This helped ...
Tue, May 18 2010, 1:07 PM
The number of homeowners who completed HAMP's mandatory 90 day trial period and were converted into permanent load modification status rose 68,000 to ...
Mon, May 17 2010, 11:48 AM
Big Banker MBS Holdings Decline in Q1 2010; More Originator Job Offers; Secondary Marketing Conference; Investor Updates
Mon, May 17 2010, 10:51 AM
Floating one day at a time seems safe when the range trade is in play, just don't get lulled to sleep by a slow and steady grind to the right. When ra...
Mon, May 17 2010, 9:03 AM
The key sector this week is housing, as data on new construction and homebuilder confidence are each expected to suggest recent progress. Meanwhile, s...
Mon, May 17 2010, 6:32 PM
By and large, most technical frameworks through which we've been viewing the markets recently held up well today despite the selling in bonds. That s...
Mon, May 17 2010, 4:33 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be marginally better today. The par 30 year conventional mortgage rate is in...
Mon, May 17 2010, 3:47 PM
The GSEs were once the cornerstones of American Homeownership. However, at last count, the CBO estimated that it would cost taxpayers $389 billion thr...
Mon, May 17 2010, 3:07 PM
Longer term considerations about today's relatively small movements will follow later in the day. For now, be aware of potential reprices for the wor...
Mon, May 17 2010, 1:58 PM
Builder confidence in the market for newly built, single-family homes rose for a second consecutive month in May to its highest point since August 200...
Mon, May 17 2010, 1:49 PM
Treasury International Capital data (TIC data), which tracks foreign purchases and holdings of US securities, showed a sharp increase in monthly net h...
Fri, May 14 2010, 11:17 AM
Moody's Investors Service said the foreclosures and delinquencies have risen significantly in the portfolios of state Housing Finance Agencies (HFAs) ...
Fri, May 14 2010, 10:18 AM
Why Isn't Loan Production Picking Up?; More on Originator Compensation and Risk Retention Legislation; HomePath Update; Less and Less Product
Fri, May 14 2010, 9:28 AM
Retail Sales were up 0.4% in April, this beat the Reuters survey consensus estimate of +0.2% but was sharply lower than the previous print of +1.9%. E...
Fri, May 14 2010, 8:25 AM
Equity futures are sharply lower this morning ahead of several key data points for the U.S. “The whiff of uncertainty is still in the air on this Frid...
Fri, May 14 2010, 6:59 PM
It is very tempting to advise floating in this situation. Mortgage rates are literally at their best levels of the year. Consumer borrowing costs real...
Fri, May 14 2010, 6:48 PM
For whatever reason, which fundamental and technical can be offered, stocks sold off today. The S&P was down 2.01% to 1135.80 and the Dow fell 1.50% t...
Fri, May 14 2010, 1:01 PM
Rate sheets were a bit delayed this morning as lenders scrambled to figure out what percentage of their pipeline would need float downs today. The gen...
Thu, May 13 2010, 11:47 AM
Foreclosure activity in April dipped from earlier monthly and yearly figures. A dramatic drop in initial filings and surge in bank repossessions may ...
Thu, May 13 2010, 10:53 AM
The pendulum swings one way and then the other. Markets are extremely noncommittal with Gold and the Euro being the only assets exhibiting significan...
Thu, May 13 2010, 9:33 AM
HUD Secretary Shawn Donovan told his staff on Wednesday that the agency's new strategic plan and its five associated goals will serve to carry the age...
Thu, May 13 2010, 9:04 AM
Senate Votes to Limit Mortgage Broker Compensation Options and Require Bankers to Retain Risk; Industry Job Losses; More on Loan Buyback Requests;
Thu, May 13 2010, 8:11 AM
Equity futures suggest sentiment is mixed ahead of the open on Thursday after a broad and steady climb in the markets yesterday pushed the S&P 500 up ...
Thu, May 13 2010, 5:09 PM
4.5's Go Out +0-06 at 101-07. MBS Current Coupon: -3.3bps at 4.303%. 10yr TSY 3.70 bps lower at 3.534%. Long Bond Auction Went Well. MBS spreads tigh...
Thu, May 13 2010, 4:58 PM
With rates at the best levels of the year, I continue to advise locking all loans closing within 30 days and also encourage you to consider longer ter...
Thu, May 13 2010, 3:24 PM
In another move to smooth the flow of information and improve the rate of temporary to permanent loan modifications, HUD has opened a new web port to ...
Thu, May 13 2010, 3:08 PM
This week USDA announced that lenders could continue to fund loans despite a budget shortfall that had threatened to put an early end to 2010 USDA loa...
Thu, May 13 2010, 1:54 PM
While the long bond refunding didn't go as well as the previous reopenings, it went well for a refunding. Direct bidders continue to be a massive sour...
Wed, May 12 2010, 10:57 AM
The removal of government funded homebuyer incentives is forcing loan originators, realtors, and builders to produce new promotion strategies and mode...
Wed, May 12 2010, 10:30 AM
FDIC Proposes Risk Retention Rules for Securitized Loans; The Price Mechanism and Discounting Risk; FHA Broker Approval Update
Wed, May 12 2010, 10:06 AM
Wed, May 12 2010, 8:49 AM
The global stock market is relatively benign this morning, and domestic stocks look to open firmer, after Euro zone Q1 GDP rose 0.2% in the quarter, s...
Wed, May 12 2010, 5:26 PM
The most mortgage rate influential event of the day was supposed to be the Treasury's auction of $24 billion of 10 year notes. However the auction res...
Wed, May 12 2010, 4:09 PM
The Budget deficit is at a record high. It's almost as if QE costs money, but then we're surprised when we get a report back that says we're spending...
Wed, May 12 2010, 3:17 PM
The Acting Director of FHFA told a senate committee on Monday that forcing the GSEs and FHLBanks to participate in the proposed Financial Recovery Fee...
Wed, May 12 2010, 2:01 PM
Direct bidders continue to show up as big U.S. debt supporters, indirect bidders were aggressive, taking home almost 70% of what they bid on (hit rate...
Tue, May 11 2010, 12:43 PM
Michael Fratantoni, MBA's Vice President of Research and Economics added, "The severity and duration of the most recent downturn far exceeds what we h...
Tue, May 11 2010, 10:20 AM
With only low-tier data out so far today, the focus moving forward should be on the 3yr note auction. Recent bullishness in bonds, in general, is gen...
Tue, May 11 2010, 10:04 AM
Two Housing Reports:Underwater Homeowners and Home Values; Chase Updates Flipping Policy; Fannie Mae DU Version 8.1; GSE Reform Bill
Tue, May 11 2010, 8:10 AM
The broad stock market rally from yesterday appears to have fizzled out this morning, as equity futures are looking sharply lower ahead of a quiet dat...
