Fri, Mar 12 2010, 2:50 PM
Thu, Mar 11 2010, 11:37 AM
Considering the extent to which concessionary 2s/30s steepening has taken place over the past week..it would make sense for the steepener to reverse c...
Thu, Mar 11 2010, 8:52 AM
In a speculative manner, it appears rates traders are looking for an opportunity to push TSY prices higher (yields lower) as the long end of the yield...
Thu, Mar 11 2010, 6:05 PM
Tomorrow morning we get the Retail Sales, Consumer Sentiment and Business Inventories. Of the three, the Retail Sales report has the highest potentia...
Thu, Mar 11 2010, 5:24 PM
Thu, Mar 11 2010, 3:37 PM
Thu, Mar 11 2010, 1:09 PM
The previously discussed auction concession must have been sufficient because the long bond auction went very well. Overall, auction demand was well a...
Wed, Mar 10 2010, 12:05 PM
Wed, Mar 10 2010, 8:40 AM
While many rates watchers are seeking a fundamental explanation for the market's bias to push "rate sheet influential" benchmark yields higher, I do n...
Wed, Mar 10 2010, 5:13 PM
This is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable quest...
Wed, Mar 10 2010, 4:48 PM
Yesterday I informed you that the most significant threat to mortgage rates was today's 10 year Treasury note auction and the 30 year bond auction sch...
Wed, Mar 10 2010, 3:23 PM
For the time being, at least until we get closer to the Fed's exit from the agency MBS market, mortgage rates will take their directional guidance fro...
Wed, Mar 10 2010, 1:08 PM
The 10 year auction has impressive demand, but for higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield. MBS ...
Tue, Mar 9 2010, 11:23 AM
Chicago Fed President Charles Evans, a middle of the road on inflation non-FOMC voter, shared prepared remarks with the world this morning. The one th...
Tue, Mar 9 2010, 11:05 AM
Reports from fellow mortgage professionals indicate lender rate sheets to have regained yesterday's marginal losses. The par 30 year conventional rat...
Tue, Mar 9 2010, 4:51 PM
If you haven't read the following description of the agency MBS settlement process...please don't skip over it as it may save you from having to chang...
Tue, Mar 9 2010, 1:19 PM
The three year note auction went well. I must remind you that this sector of the yield curve has minimal bearing on the "rate sheet influential" side ...
Mon, Mar 8 2010, 12:23 PM
Mon, Mar 8 2010, 11:33 AM
Reports from fellow mortgage professionals indicate lender rate sheets to be marginally worse when compared to Friday afternoon pricing. However the ...
Mon, Mar 8 2010, 10:27 AM
Besides some off the radar releases, the econ calendar is essentially empty this week. Retail Sales is the only data with the ability to have an inter...
Fri, Mar 5 2010, 11:12 AM
While many lenders hit rate sheet rebate by about 30bps at the open, not all desks cushioned pricing. Since the initial knee jerk reaction move lower,...
Fri, Mar 5 2010, 8:34 AM
36,000 jobs were lost in February according to the Bureau of Labor Statistics. The unemployment rate held steady at 9.7%. The payrolls number was MUCH...
Fri, Mar 5 2010, 5:10 PM
When looking back on the week that was, it seems like mortgage rates went on a wild ride. Lenders repriced for the better and lenders repriced for the...
Thu, Mar 4 2010, 10:44 AM
Thu, Mar 4 2010, 5:35 PM
I know everyone wants to run through "what if" scenarios and try and position their pipeline for profits ahead of tomorrow's NFP print....I cant say I...
Thu, Mar 4 2010, 5:04 PM
Tomorrow we get the official government numbers on the employment situation. This is the most influential report offered on a monthly basis. Job cre...
Wed, Mar 3 2010, 11:18 AM
While price action has been choppy, I do believe the range will contain both bearish and bullish momentum leading up to 830am on Friday. My targets ar...
Wed, Mar 3 2010, 7:54 AM
We've been speculating about the sources of strength behind bullish bond market momentum. On one hand we know the market is nervous about Friday's NFP...
Wed, Mar 3 2010, 5:46 PM
Like yesterday, early morning weakness in the MBS market led to slightly worse rate sheets at the beginning of the day. However as the day progressed,...
Tue, Mar 2 2010, 10:55 AM
While I do see reasons to be worried about reprices for the worse in the short term, recent ranges are still containing directionality. It looks like ...
Tue, Mar 2 2010, 9:56 AM
Mortgages have been playing follow the leader with benchmark Treasuries over the past few session. This continues ahead of what is expected to be a sl...
Tue, Mar 2 2010, 5:04 PM
It was a very volatile day in the secondary mortgage market. Yesterday MBS prices rose in the morning and fell in the afternoon. Today the exact oppos...
Mon, Mar 1 2010, 4:14 PM
The week ahead is busy with the highest impacting report scheduled to be released on Friday morning. Reports from fellow mortgage professionals indica...
