Thu, Sep 10 2009, 1:04 PM
Both Fannie Mae and Freddie Mac reported that average interest rates edged down during the most recent weeks for which data is available.
Accordi...
Wed, Sep 9 2009, 11:56 AM
It has been another chopatile morning in the secondary mortgage market. Lenders have published pricing and guess what...yeh...pretty much the same as...
Wed, Sep 9 2009, 11:04 AM
Although vacations are over in Washington and the summer session has ended on Wall Street, a slow economic calendar combined with a holiday hangover k...
Wed, Sep 9 2009, 9:56 AM
Fitch Ratings has projected a dramatic increase in defaults among some $189 billion in Option ARM mortgages as 88 percent of these recast by the end o...
Wed, Sep 9 2009, 8:59 AM
Stocks mixed overnight. Hang Seng, NIKKEI, TOPIX, KOSPI lower. Shanghai, DAX, CAC, FTSE all higher. Dollar Index mostly unchanged. NYMEX crude more ex...
Wed, Sep 9 2009, 8:50 AM
It’s another day of slow economic news but, unlike yesterday, US markets are looking down, potentially ending three days of gains. Globally, European ...
Wed, Sep 9 2009, 8:27 AM
Demand for mortgage loans and refinancing surged last week, spurred by a drop in mortgage rates, an industry survey said. Purchases also saw the large...
Wed, Sep 9 2009, 5:37 PM
Except for a relatively short window of time, today was largely uneventful. Yeah, there were some fairly violent swings but those occurred in a compa...
Wed, Sep 9 2009, 3:42 PM
After a little post auction chopatility, the FN 4.5 MBS coupon has recovered and is trading back in the green. This morning I asked readers to share p...
Wed, Sep 9 2009, 3:40 PM
Rep. Barney Frank has warned loan servicers that their performance is increasing chances that cram down legislation will pass. At the same time, a Tr...
Wed, Sep 9 2009, 2:45 PM
The question is one of trust. For nine months our trade group has been lobbying Congress and the GSE's to use such a work force but the question is al...
Wed, Sep 9 2009, 1:32 PM
Despite a slow open, equity markets have been quietly climbing higher on Wednesday, helped out by a series of minor but positive headlines that are bo...
Wed, Sep 9 2009, 1:16 PM
Chopitility is a way of life after auctions. And though the charts below tell a much different story than the wider view 2-day charts, it's something...
Wed, Sep 9 2009, 1:02 PM
10 yr Auction Results
* 2.77 Bid To Cover
* High Yield 3.51
* 78% taken at high
* Indirect Bid at $ 11 bln good for 55% indirect...
Tue, Sep 8 2009, 11:44 AM
The morning content theme has centered around the notion that SUMMER IS OVER, TIME FOR MARKETS TO GET BACK TO WORK. Well, although that is indeed the ...
Tue, Sep 8 2009, 10:41 AM
Mortgage rates moved slightly higher on Friday following the release of the Employment Situation report. The increase was however not huge as the ev...
Tue, Sep 8 2009, 8:37 AM
Overseas equity markets higher overnight...SHANGHAI, HANG SENG, NIKKEI, TOPIX, KOSPI, DAX, CAC, FTSE. Dollar weaker, Oil richer, Gold over $1,000. TS...
Tue, Sep 8 2009, 8:23 AM
Extending on two days of gains before the long weekend, equity futures are looking higher on Tuesday with the benchmark S&P a full 1% up. Globally, eq...
Tue, Sep 8 2009, 5:00 PM
Anyone catch the reference to the "secret line" on Friday? I know most are eager to get out for the weekend, so by the time a closing commentary make...
Tue, Sep 8 2009, 3:37 PM
In after hours trading, the FN 4.5 has found stable ground near the middle of its 2 day range. MBS trading volume was below average today. Originator...
Tue, Sep 8 2009, 2:21 PM
Markets are moving sideways in what has been a slow day day on Wall Street. After having digested nonfarm payroll cutbacks over the long weekend, inv...
Tue, Sep 8 2009, 1:23 PM
Immediately following the auction, it would have been hard to pinpoint any significant data release simply by watching market prices for a reaction. ...
Tue, Sep 8 2009, 1:03 PM
results for auction of $38 bln of 3 yr notes
* high yield at 1.487%
* 54.6% of bids at high yield
* median yield at 1.43, right with ...
Fri, Sep 4 2009, 12:55 PM
Mortgage backed securities had a calm day yesterday, never straying far from opening levels, posting inconsequential gains by close. You could say t...
Fri, Sep 4 2009, 12:26 PM
What's good for stocks is bad for bonds. Stocks are rallying and bonds are selling. Reprices for the worse are possible. The range should still modera...
Fri, Sep 4 2009, 10:59 AM
The FN 4.5 has held a stable range after a bit of early morning volatility. Currently we are in a holding pattern right in the middle of the recent ra...
Fri, Sep 4 2009, 8:35 AM
The knee jerk reaction to the headline was a drop in stock futures and rising TSY futures. However, the market quickly changed course...stock futures ...
Fri, Sep 4 2009, 8:16 AM
The decline in July’s nonfarm payrolls was the smallest in 11 months, so the Employment Situation report for August should bring optimism to markets s...
Fri, Sep 4 2009, 5:47 PM
I'm lamenting a wasted Friday... No point in sticking around today if you were paying attention up until NFP today. Everything should have been lock...
Fri, Sep 4 2009, 4:02 PM
After bouncing off this AM's lows of 100-13 for the second time today, prices have formed a perfect triangle into the close--characteristic of so many...
Fri, Sep 4 2009, 2:40 PM
The Commission of the FHA responded this morning to an article in the Wall Street Journal that stated the agency was nearing the trigger point mandate...
Fri, Sep 4 2009, 1:44 PM
Yes it's Friday. Yes, volume is low. Yes, it's after 12:00 noon. Yes, flows at this time of day are seldom indicative of Monday's action, or at lea...
Thu, Sep 3 2009, 12:18 PM
Trading as been seasonally slow in the secondary mortgage market today. In the "to be announced" sector, mortgage originators have locked about $700 ...
Thu, Sep 3 2009, 11:00 AM
Mortgage Rates are still holding steady near summer lows after prices of mortgage backed securities rallied to summer highs yesterday. While the appre...
Thu, Sep 3 2009, 8:32 AM
Lenders will likely be defensive ahead of tomorrow's job data/long weekend ahead/market going back to work (summer session almost over!!!). Dont be su...
Thu, Sep 3 2009, 8:21 AM
Looking ahead to today, the key releases concern the labor market and consumer spending, two areas crucial to any hopes of a V-shaped recovery. So whi...
Thu, Sep 3 2009, 6:18 PM
It might seem cliche, but everything really does come down to NFP tomorrow, and by "everything," I mean the next 6 weeks... In case you missed last n...
Thu, Sep 3 2009, 6:14 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the five trading days between August 27 an...
Thu, Sep 3 2009, 4:57 PM
According to Freddie Mac's Primary Mortgage Market Survey for the week ended September 3, most mortgage rates declined from the week before. Fannie M...
Thu, Sep 3 2009, 4:41 PM
Overall it has been a slow day in the rates market. Volume in TSY futures was below average. The 10yr Dec contract held a range between 117-20 and 117...
Thu, Sep 3 2009, 2:09 PM
Q: Is the MBS market doing good or bad today?
A: Yes
At the very least, you can draw on familiarity as a positive for today. Despite the signif...
Thu, Sep 3 2009, 1:10 PM
Markets are pretty much flat again, indicating most participants are playing it safe ahead of tomorrow's all important Employment Situation Report. Th...
Wed, Sep 2 2009, 12:40 PM
Low volume... Low volatility... Low expectations... Low pulse...
Seems like some the "mood" that could be inferred from the lead-in wouldn't be ...
Wed, Sep 2 2009, 10:57 AM
If stocks go higher...expect too see profit taking in the rates market. If stocks keep bouncing around flat for the day, we still might see profit tak...
Wed, Sep 2 2009, 9:24 AM
As the new administration deliberates on what the government’s role should be in securing mortgage credit across the US, a national group of real esta...
Wed, Sep 2 2009, 8:18 AM
So far this AM
* ADP employment down 298k, more than expected
* Still, we're shocked ADP is even line 1 news
* Mortgage Banker's Asso...
Wed, Sep 2 2009, 8:15 AM
Equity futures are pointing slightly higher this morning, but the gains are far from comforting considering the S&P 500 slid 2.2% yesterday, led by 5....
Wed, Sep 2 2009, 8:05 AM
A slight hurdle was hit after many weeks of increasing demand for mortgage loans and new purchases, a housing industry survey said. Even with average ...
Wed, Sep 2 2009, 6:28 PM
Generally positive, with significant downside risks in the short-term, with more uncertainty than normal... That's how I'm about to describe the outl...
Wed, Sep 2 2009, 4:21 PM
I'm not happy about putting out this alert... It's the last hour of a low volume rally day and we're seeing losses that would justify reprices for th...
