Thu, Mar 25 2010, 7:09 PM
If we forget that MBS lost about a point yesterday and that treasuries rose more than 10bps in yield, today is mild by comparison. MBS were unchanged...
Thu, Mar 25 2010, 7:04 PM
Yesterday was either the beginning of rates moving higher or just a temporary correction. If your lender is still offering the same rate they were off...
Thu, Mar 25 2010, 4:59 PM
For the second to last time, the Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). Obviously everyo...
Thu, Mar 25 2010, 2:50 PM
"We have come up with some interesting ideas ... to enable some additional people to participate in this program, who may be unemployed or who need pr...
Thu, Mar 25 2010, 2:47 PM
It's been one heck of a roller coaster watching the various levels of 10yr yields on a tick by tick view. Things looked quite bad for a time when the...
Thu, Mar 25 2010, 1:23 PM
The auction did not go well. Not a huge surprise given the events that unfolded yesterday. Rates are higher after the auction. Between then and now, n...
Wed, Mar 24 2010, 12:39 PM
Ahead of the 5 year note auction...the 2 year and 5 year TSY note yield are both trading at two month highs.The 10 year TSY note is at a one month yie...
Wed, Mar 24 2010, 12:01 PM
We look at the most recent results of the difference between best efforts and mandatory delivery. There are four key areas a mortgage banker must dev...
Wed, Mar 24 2010, 11:12 AM
Reuters polled primary dealers on their outlook for interest rates over the next three, six, and twelve months. 6 of 30 dealers think the 10 year note...
Wed, Mar 24 2010, 10:56 AM
Bank of America has announced a new program that will assist delinquent borrowers by reducing principal balances in a two step process. Eligible borr...
Wed, Mar 24 2010, 10:53 AM
The Federal Housing Finance Agency reports that home prices dropped 0.6 percent in January from December figures. Those December figures were also re...
Wed, Mar 24 2010, 10:50 AM
After two days of a boring, low volume driven sideways tight range trading, rates volume has skyrocketed into this sell off with the majority of sell ...
Wed, Mar 24 2010, 9:53 AM
New FHA Compliance Manager; Long Road of Housing Reform Ahead; Short Sale Primer; PMI Freddie Mac Approved; FHA Delinquencies, Broker Pricing Opinions...
Wed, Mar 24 2010, 8:54 AM
Wed, Mar 24 2010, 8:18 AM
The US dollar is strengthening and equity futures are sharply lower this morning ahead of key housing and durable goods data. Yesterday the Dow streng...
Wed, Mar 24 2010, 5:53 PM
Benchmark interest rates started rising early in the trading session, before MBS trading officially opened at 8am. Positive Durable Goods Orders data ...
Wed, Mar 24 2010, 4:22 PM
Wed, Mar 24 2010, 3:17 PM
Treasury Secretary Geithner, and others testified before the House Financial Services Committee on Tuesday. The crux of the hearing depended on who w...
Wed, Mar 24 2010, 2:43 PM
MBS have trounced treasuries all day, and especially into the sell-off. That "ledge-ish" sort of section around 100-18 corresponds with a major pivot...
Wed, Mar 24 2010, 1:14 PM
REPRICES FOR THE WORSE ARE IMMINENT after a weak 5 year Treasury note auction.
Tue, Mar 23 2010, 12:59 PM
Tue, Mar 23 2010, 10:13 AM
Existing-home sales declined slightly in February, with modest gains in the Northeast and Midwest offset by softer sales in the South and West. This i...
Tue, Mar 23 2010, 10:08 AM
FHA Guidance for Merging Mortgage Ops; Chase Joins HAMP 2nd Lien Program; USDA Update; Corporate Rates Lower than Treasuries; News from, USB, FAMC, R...
Tue, Mar 23 2010, 8:38 AM
No need to go too deep into this outlook. Markets have been "coiling" energy, waiting for an influential event that provided direction and justified b...
Tue, Mar 23 2010, 8:33 AM
After a sharply lower open yesterday, stocks edged forward in the first hour and continued a steady climb throughout the day to end roughly 0.50% high...
Tue, Mar 23 2010, 7:25 PM
The moral of today's story is that MBS were wanting to stay under 101-02 yesterday and over it today. Whether prices open higher or lower tomorrow, w...
Tue, Mar 23 2010, 5:15 PM
The House Financial Services Committee held a hearing today to discuss the future of Housing Finance- What Should the New System Be Able to Do? So mu...
Tue, Mar 23 2010, 4:55 PM
The par 30 year conventional rate mortgage has once again declined to the 4.75% to 5.00% range for well qualified consumers .Over the past two days be...
Tue, Mar 23 2010, 4:21 PM
FN 4.5's currently unchanged on the day at 101-02. (4 ticks off highs). Treasuries much worse off with 10yr down 7 ticks, pushing yield up to 3.69. C...
Tue, Mar 23 2010, 3:51 PM
It’s hard to manage a company without have the details of revenues, cost of goods sold and expenses. Appropriate placement of the details on the P&L...
Tue, Mar 23 2010, 2:33 PM
Mon, Mar 22 2010, 12:00 PM
Coiling represents "waiting for guidance" in the marketplace. This fits in well with the financial atmosphere today. There is a lack of meaningful dat...
Mon, Mar 22 2010, 11:04 AM
Citi "Re-Entering" Correspondent Channel; Reverse Mortgages; Updates From Almost Every Major Lender; Seven Bank Failures
Mon, Mar 22 2010, 8:59 AM
The econ calendar is essentially empty today, this allows bond traders to price in auction supply concessions to the yield curve whenever the stock le...
Mon, Mar 22 2010, 8:58 AM
Financial markets don’t seem pleased by the $940 billion healthcare bill. One morning after the House of Representatives passed the President’s initia...
Mon, Mar 22 2010, 6:02 PM
My goal is to convey just how boring today was. The term "range-bound and waiting for guidance" doesn't even begin to describe it. "Low volatility a...
Mon, Mar 22 2010, 5:01 PM
It was a very slow day in the mortgage market. Mortgage-backed security prices opened lower which forced many lenders to publish mortgage rates higher...
Mon, Mar 22 2010, 3:26 PM
Current trading may follow a certain general framework, but it's all akin to a pre-game warm up as the real action won't begin until 1pm tomorrow--whe...
Mon, Mar 22 2010, 3:04 PM
Fannie Mae has offered its servicers a second method of moving distressed borrowers into permanent HAMP loan modifications. The Alt Mod program is de...
Mon, Mar 22 2010, 1:54 PM
Would you invest in a company laden with huge amounts of debt and moderate growth or a company with high growth and no debt? What if the choice were ...
Fri, Mar 19 2010, 11:48 AM
Rates are staging a lackluster comeback as commodities stocks battle a strong dollar. Adding some weakness is a continued lack of liquidity in the mar...
Fri, Mar 19 2010, 10:00 AM
Underwriter Compensation and Production; Mortgage Insurance Update; Fannie Mae Buyout Details
Fri, Mar 19 2010, 8:33 AM
Both benchmark 10s and rate sheet influential MBS coupons are opening the day weaker...in a very slow trading environment. 10s moved sideways overnigh...
Fri, Mar 19 2010, 8:27 AM
Stocks are mixed after yesterday’s mixed session. A lack of significant data on today’s schedule implies trading could be light, but headlines should ...
Fri, Mar 19 2010, 4:18 PM
Fri, Mar 19 2010, 3:34 PM
Recapping The Week That Was in Housing: Fed Meeting, Builder Confidence, Housing Starts, Building Permits, Financial Reform, Loan Demand, Interest Ra...
Fri, Mar 19 2010, 3:24 PM
After yesterday’s busy economic data calendar, the schedule was empty today. Reports from fellow mortgage professionals indicate lender rate sheets to...
Fri, Mar 19 2010, 3:01 PM
Fri, Mar 19 2010, 1:37 PM
Thu, Mar 18 2010, 12:43 PM
