Thu, Aug 13 2009, 10:35 AM
The Fed didnt offer up much new guidance yesterday, well I dont want to say they totally crapped the bed because they did draw out the end of the TSY ...
Thu, Aug 13 2009, 8:33 AM
The AM So Far...
* 4.5's up 5 ticks to 99-13 after being as low as 98-29
* Stock futures were quasi-soaring and fixed income was hurtin' f...
Thu, Aug 13 2009, 8:20 AM
Optimism is in the air. While analysts debate whether the US economy is on the brink of recovery or whether the recession has already ended, real GDP ...
Thu, Aug 13 2009, 6:16 PM
The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financ...
Thu, Aug 13 2009, 4:46 PM
Foreclosure filings and related activities continued to increase in July according to figures released by RealtyTrac. Nevada, California, and Arizona...
Thu, Aug 13 2009, 4:45 PM
Good news on the jobs' front led to an increase in most mortgage rates for the week ended August 13 according to the latest Freddie Mac’s Primary Mort...
Thu, Aug 13 2009, 3:31 PM
YAY REPRICES FOR THE BETTER!!!!
Since the results of bond auction were released "rate sheet influential" MBS prices have gone on a tear. The trend ...
Thu, Aug 13 2009, 2:17 PM
Mortgage News Daily has learned that the President of Ginnie Mae, Joseph Murin, is expected to submit his resignation by Monday August17, 2009.Joe Mur...
Thu, Aug 13 2009, 1:02 PM
Good at first glance....
- high yield at 4.541 with 16.77% at high yield, only 3 bps over current market
- median yield was under current market...
Wed, Aug 12 2009, 12:26 PM
Three hours into Wednesday’s session, the NASDAQ is leading the way with a 1.65% advance to 2,0002, followed by a 1.30% climb in the Dow to 9,361, and...
Wed, Aug 12 2009, 12:16 PM
Mortgage rates improved yesterday after prices of mortgage-backed securities moved higher for a second straight session. Yesterday’s trading action w...
Wed, Aug 12 2009, 9:57 AM
Yesterday weaker stock prices gave bonds the buy signal (wave em in)...today the opposite is occurring as stocks bounce off a familiar support level. ...
Wed, Aug 12 2009, 8:59 AM
National mortgage rates continue to bounce around a volatile range. A jump in borrowing costs in the week ending August 7 caused refinance-related loa...
Wed, Aug 12 2009, 8:31 AM
After two pretty light days that have caused markets to tumble, Wednesday offers a busy schedule with a mix of fresh data and government policy. The S...
Wed, Aug 12 2009, 8:28 AM
The AM So Far...
* 2 ticks up so far in 4.5's to 99-11
* tsy futures testing 21 day moving average, good for bonds
* gains or losses ...
Wed, Aug 12 2009, 3:50 PM
Like we said regarding the 10yr Auction: "the results are not as bad as the 10yr has demonstrated in the first few seconds." And regarding the FOMC S...
Wed, Aug 12 2009, 2:59 PM
Although we have dissected the policy statement alterations in great speculative detail, this FOMC statement was "as expected". The Fed confirmed that...
Wed, Aug 12 2009, 2:19 PM
* FED SAYS EXTENDS PURCHASES OF LONG-TERM U.S. TREASURY DEBT TO END OF OCTOBER, KEEPS AMOUNT $300 BLN
* TIMING AND AMOUNT OF PURCHASES OF AGENCY ...
Wed, Aug 12 2009, 1:46 PM
Of course all this could go right out the window after the FOMC announcement, but the moderation we expected at 3.75 on the 10yr has occurred and coin...
Wed, Aug 12 2009, 1:01 PM
* high yield of 3.734% with 20.93% at high. exactly with current trading
* Bid To Cover 2.49 - closer to average, last one was the outlier that...
Tue, Aug 11 2009, 12:58 PM
After a brutal last week were mortgage rates moved .50% higher, mortgage backed securities managed to start this week in rally mode. To remind reade...
Tue, Aug 11 2009, 12:33 PM
The S&P 500 has dipped below the 1,000 level today as all three major indexes have shed more than 1% in the first three hours of trading. A better tha...
Tue, Aug 11 2009, 12:18 PM
I dont want to say its been a terribly slow morning, there has actually been a pretty decent pace to morning price action in futures trading...however...
Tue, Aug 11 2009, 9:02 AM
It was a slow yesterday with no fresh data, and markets reacted by edging down following a four-week rally. Today is looking like a repeat performance...
Tue, Aug 11 2009, 8:32 AM
The AM So Far...
* 5 ticks up so far in 4.5's to 99-15
* tsy futures flluctuated overnight, but coming of domestic session reversed any lo...
Tue, Aug 11 2009, 6:20 PM
Tomorrow is FOMC Statement day...speculatively we are still waiting for stocks to selloff and note that the long end of the yield curve isnt priced t...
Tue, Aug 11 2009, 3:47 PM
The second quarter 2009 report was released on Tuesday. It reported that, while home prices have continued to fall for the 10th quarter in a row, the...
Tue, Aug 11 2009, 3:32 PM
As the close of the markets draws near, tsy's are at their best levels of the day at 3.68, having moved considerabley lower since 2:30 despite a moder...
Tue, Aug 11 2009, 2:14 PM
More to be appended here shortly...
Moderate risk of reprice for the worse as MBS have pushed to their lows of the day as stocks and tsy yields pus...
Tue, Aug 11 2009, 1:01 PM
Initial reaction is positive. Not much change in MBS or Tsy's at the moment. But have seen a few upticks... Jury still out, but so far, muted pre-F...
Mon, Aug 10 2009, 12:41 PM
The first three hours of trading have been pretty light with all three indexes trading marginally lower, failing to move higher. Equities rallied on F...
Mon, Aug 10 2009, 11:15 AM
Rates traders remain very DEFENSIVE of the behavior of stock markets. Fixed income rallies may not last long as market participants sell into strengt...
Mon, Aug 10 2009, 11:08 AM
In what was a volatile week, prices of mortgage backed securities moved progressively lower which unfortunately forced lenders to raise the par 30 yea...
Mon, Aug 10 2009, 8:28 AM
No significant data comes out Monday but the rest of the week should bring further confirmation that the economy turned a corner as the third quarter ...
Mon, Aug 10 2009, 8:23 AM
The AM So Far...
* 7 Ticks up on 4.5's, ticks up on the 10 yr
* 10yr futures above resistance (good)
* Not yet at Friday's opening le...
Mon, Aug 10 2009, 5:09 PM
For one of the only times in the history of the MBS Close, the entire commentary is obviated by the title. With little if any data that anyone really...
Mon, Aug 10 2009, 4:23 PM
With the Fed not expected to offer up any tapebombs and stocks leading TSY prices higher....today was simply a return to status quo, a mini correction...
Mon, Aug 10 2009, 1:40 PM
In and of themselves, today's gains are quite good, with the 4.5 currently up 18 ticks to 99-12. This in fact puts us above Pre- NFP levels including...
Fri, Aug 7 2009, 12:53 PM
Early reports from fellow mortgage professionals are indicating higher rates this morning. The par 30 year conventional rate mortgage is now in the 5...
Fri, Aug 7 2009, 11:45 AM
Fannie Mae posted a net loss of $14.8 billion in the second quarter, following up on a deficit of $23.2 billion from the first three months of the yea...
Fri, Aug 7 2009, 10:58 AM
After the better than expected NFP print the benchmark 10 yr TSY yield rose over 10bps to 3.88%. The selling pressure was noticeable in futures market...
Fri, Aug 7 2009, 8:30 AM
The only good news this AM is that Today's NFP was indeed the major guidance-giving, market-moving report we've been expecting. Bad News: it's not th...
Fri, Aug 7 2009, 8:21 AM
Employment indicators have been mixed this month but virtually all economists believe the labor market improved substantially relative to June, even i...
Fri, Aug 7 2009, 5:17 PM
When all was said and done today, the 4.5 coupon lost just 13 ticks after being as weak as 27 ticks down at one point this AM and 25 ticks down at a r...
Fri, Aug 7 2009, 3:49 PM
Treasuries and Stocks appear to have shown their hand for the day as the close of the stock market approaches. After 3 earnest attempts, the 10yr has...
Fri, Aug 7 2009, 3:12 PM
I use transparency as a weapon against the banks. I walk into a bank branch and snap a picture of their mortgage rates, on the lobby sign. I e-mail ...
Fri, Aug 7 2009, 1:33 PM
Activity remains quiet early in the afternoon hours on this summer Friday. The FN 4.5 has moved 11 ticks (11/32) off the lows of the day. Some lenders...
Fri, Aug 7 2009, 1:29 PM
Buoyed by the first reversal in the unemployment rate in 15 months, markets are up more than 1% on Friday, which will give the benchmark S&P 500 its f...
Thu, Aug 6 2009, 12:28 PM
Weaker than expected economic data on the services sector of our economy lead to a brief rally in mortgage backed securities yesterday. However, as t...
Thu, Aug 6 2009, 10:28 AM
Although this morning stocks moved lower as profit takers set out to time a top before tomorrow's NFP print, fixed income market participants have bee...
