Thu, Nov 12 2009, 5:15 PM
The Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the four trading days between November 5 a...
Thu, Nov 12 2009, 3:26 PM
I've been hesitant to address this issue while I've watched it slowly unfold, but perhaps now is a good time to raise the red flag. Lackluster demand ...
Thu, Nov 12 2009, 2:02 PM
The annual independent audit report of FHA capital reserves published today shows that, while the reserve ratio has dropped below the level mandated b...
Thu, Nov 12 2009, 2:01 PM
Mortgages continued to hold firm with average rates below 5 percent for both long and short term loans. The 30-year FRM has now been below 5 percent ...
Thu, Nov 12 2009, 1:28 PM
Thu, Nov 12 2009, 1:02 PM
Wed, Nov 11 2009, 9:17 AM
Tue, Nov 10 2009, 12:24 PM
Reports from fellow mortgage professionals indicate mortgage rates are marginally improved from yesterday. This keeps the par 30 year conventional ra...
Tue, Nov 10 2009, 11:18 AM
Tue, Nov 10 2009, 10:01 AM
The Federal Reserve's Senior Loan Officer Survey for October shows that banks are still tightening their lending standards, although not with the freq...
Tue, Nov 10 2009, 9:46 AM
Mortgage Insurance Incontestability Opinion; Tax Credit; Flagstar Update; Where are Rates Going?
Tue, Nov 10 2009, 9:20 AM
At the moment, the December FN 4.0 is +0-06 at 98-23 and the FN 4.5 is trading +0-05 at 101-08. Because we are right in the middle of the settlement p...
Tue, Nov 10 2009, 8:09 AM
Investors look hesitant to keep the rally going. The S&P 500 has climbed 5.5% on six straight days of gains and the Dow hit a 13-month yesterday at 10...
Tue, Nov 10 2009, 5:11 PM
Tue, Nov 10 2009, 4:42 PM
The Treasury Department announced Tuesday morning that its Making Home Affordable Program (HAMP) now has more than 650,000 mortgage modifications unde...
Tue, Nov 10 2009, 3:46 PM
The FN 4.0 is trading +0-02 at 98-19 yielding 4.146% and the FN 4.5 is +0-02 at 101-05 yielding 4.359%. The secondary market current coupon is 4.253%...
Tue, Nov 10 2009, 2:02 PM
We've been getting a lot of questions about the particulars of the Home Buyer Tax Credit Extension. While I wish we could take credit for the abundanc...
Tue, Nov 10 2009, 1:25 PM
Tue, Nov 10 2009, 1:03 PM
Mon, Nov 9 2009, 12:15 PM
I have been using a well defined trading range to gauge my lock/float recommendations. The idea is to lock at the price highs and float at the price...
Mon, Nov 9 2009, 11:21 AM
Mon, Nov 9 2009, 10:08 AM
Tax credit extension; results from Freddie & PennyMac; HPML test; S.A.F.E. forms
Mon, Nov 9 2009, 8:29 AM
Plain and Simple: If yield curve bargain buyers take advantage of the steep shape of the curve...the unwinding of expensive MBS valuations could be of...
Mon, Nov 9 2009, 8:11 AM
The week ahead is extremely light on new data, with virtually nothing from the US hitting markets until the jobless claims report on Thursday morning....
Mon, Nov 9 2009, 3:14 PM
Good Afternoon everyone. Today is Notification Day in the TBA MBS market. At this point, veteran MBS commentary readers are well aware of the events t...
Mon, Nov 9 2009, 1:11 PM
The Treasury just auctioned a record $40bn in 3yr notes, $1 billion more than the October issuance. The bid to cover ratio was 3.33 bids for every one...
Fri, Nov 6 2009, 12:31 PM
Fannie Mae reported a loss of nearly $19 billion in the third quarter due largely to credit-related expenses. The resulting deficit has prompted FHFA...
Fri, Nov 6 2009, 11:29 AM
Fri, Nov 6 2009, 10:43 AM
While price action has been volatile so far this morning, MBS continue to hold in the middle of the recent trading range. Because the Employment re...
Fri, Nov 6 2009, 9:46 AM
The 10yr note yield just rose to 3.54%. Hopefully we get some short covering there and a reversal. Unfortunately this is having negative effects on "r...
Fri, Nov 6 2009, 9:43 AM
Lots of news from North Carolina, Fannie, Freddie, PMI, AIG, the tax credit; rates head lower after unemployment data
Fri, Nov 6 2009, 8:33 AM
Oct Non-farm Payrolls Worse than Expected at -190,000 vs. consensus -175,000 vs. Sept -219,000 (previously -263,000). Unemployment Rate: 10.2% vs. con...
Fri, Nov 6 2009, 7:59 AM
Trading is cautious ahead of the month’s most important indicator. Equities jumped more than 2% on Thursday on optimism for the labor market and posit...
Fri, Nov 6 2009, 3:32 PM
In breaking news, it has been determined that today's NFP report was all an elaborate hoax that was never intended to have any effect on the markets b...
Fri, Nov 6 2009, 1:43 PM
President Barack Obama signed into law this morning legislation extending the $8,000 tax credit beyond its current November 30 expiration date. The b...
Thu, Nov 5 2009, 12:26 PM
When the yield curve steepens, it implies interest rates will be higher in the future. If interest rates are expected to increase in the next 10 years...
Thu, Nov 5 2009, 10:25 AM
In the week ending October 31, 2009, jobless claims fell to 512,000 from 532,000 in the previous week, which was revised higher from 530,000. Economis...
Thu, Nov 5 2009, 9:47 AM
Fed Funds unchanged; results from GMAC, Radian; news from Fannie, UBOC, USB
Thu, Nov 5 2009, 9:24 AM
After the data, the dollar index weakened, oil prices barely budged, same with Goooooooooollld, and S&P futures ticked higher after the data....curren...
Thu, Nov 5 2009, 8:08 AM
The US Senate OK’d an extension of the first-time home-buyer tax credit that was to expire at the end of this month. The incentive will now expire six...
Thu, Nov 5 2009, 5:04 PM
In the five trading days between October 29 and November 4, the Federal Reserve purchased a total of $16.00 billion agency MBS. A gradual slowdown in ...
Thu, Nov 5 2009, 2:57 PM
The House of Representatives has voted to pass legislation extending the first time home tax credit until April 30, 2010.
Last night the Senate vot...
Thu, Nov 5 2009, 2:04 PM
While the 10yr TSY note continues to extend yesterday's range, "rate sheet influential" MBS coupons continue to outpeform their benchmark big brothers...
Thu, Nov 5 2009, 2:02 PM
Both long and short term interest rates declined during the week ended November 5 according to data released by Freddie Mac and Fannie Mae. All rates...
Thu, Nov 5 2009, 1:36 PM
Fannie Mae announced on Thursday that some borrowers who cannot otherwise qualify for loan modifications may be able to remain in their homes for a ye...
Thu, Nov 5 2009, 1:15 PM
With the all important Employment Situation report due out tomorrow morning at 8:30am, floating remains risky. If the report is better than expected, ...
