Tue, Dec 15 2009, 5:50 PM
Lawmakers aiming to speed development of U.S. covered bonds on Tuesday positioned the securities as an alternative or supplement to mortgage funding p...
Tue, Dec 15 2009, 5:34 PM
"No one knows what tomorrow's FOMC statement will contain, and no one knows how friendly or unfriendly to any given market it would need to be to gaug...
Tue, Dec 15 2009, 4:01 PM
Tue, Dec 15 2009, 2:32 PM
Two better than expected economic headlines did not have a positive influence over the bond market. Following the release of PPI data, Treasury yields...
Tue, Dec 15 2009, 1:46 PM
Mon, Dec 14 2009, 12:03 PM
This is a normal occurrence ahead of FOMC meetings, especially in December when the majority of market professionals have their "window dressing" fund...
Mon, Dec 14 2009, 11:30 AM
Reports from fellow mortgage professionals indicate the par 30 year conventional rate mortgage remains in the 4.75% to 5.00% range for well qualified ...
Mon, Dec 14 2009, 8:09 AM
All in all, you will notice a somewhat bearish outlook for mortgage rates is embedded in the above commentary...ie a steeper yield curve and inflation...
Mon, Dec 14 2009, 5:18 PM
Mon, Dec 14 2009, 4:07 PM
Mon, Dec 14 2009, 1:39 PM
Fri, Dec 11 2009, 11:25 AM
Fri, Dec 11 2009, 8:27 AM
After a slow week of economic data, market participants were treated to a better than expected read on November Retail Sales this morning.Led by a 6.0...
Fri, Dec 11 2009, 6:29 PM
Mortgage rates moved higher today as MBS prices fell following two better than expected economic reports. The move lower in MBS prices forced lenders ...
Fri, Dec 11 2009, 5:04 PM
In exactly two weeks of trading, MBS have moved from all time highs on November 30th to 101-08 at close today, the same levels from the beginning of N...
Fri, Dec 11 2009, 3:27 PM
Fri, Dec 11 2009, 1:33 PM
Thu, Dec 10 2009, 11:59 AM
The Treasury will announce the auction results of the $13 billion long bond reopening at 1pm. Yesterday's weak 10yr auction implies one of two things ...
Thu, Dec 10 2009, 8:31 AM
After moving higher overnight, mostly at the start of the London trading session, "rate sheet influential" benchmark rates ticked up a few bps and the...
Thu, Dec 10 2009, 5:00 PM
Thu, Dec 10 2009, 3:14 PM
To lock or float, that is the question.
In previous months, Treasury yields and mortgage rates have risen prior to bond auctions, however following...
Thu, Dec 10 2009, 2:48 PM
Thu, Dec 10 2009, 1:04 PM
JUST LIKE YESTERDAY, THIS AUCTION WAS NOT MET WITH STRONG DEMAND.....something many were expecting, thus rates have barely budged.
Wed, Dec 9 2009, 12:41 PM
"Rate sheet influential" MBS prices plummeted after the auction results. "Rate sheet influential" MBS prices plummeted after the auction results.
Wed, Dec 9 2009, 12:06 PM
Reports from fellow mortgage professionals indicate lender rate sheets to be slightly worse than yesterday. While rate sheet rebate is weaker today, t...
Wed, Dec 9 2009, 11:03 AM
As we've seen so often, markets tend to trade along pre-existing ranges toward some sort of inflection point. An oversimplified way to think about th...
Wed, Dec 9 2009, 8:39 AM
101-30 provided support yesterday, something we expect to continue unless the 10yr trades above 3.42%...or.....if the lack of MBS liquidity that set i...
Tue, Dec 8 2009, 11:07 AM
Short-term and long-term charts are telling two decidedly different stories today. If one were to look only at the short-term chart, we would indeed ...
Tue, Dec 8 2009, 10:39 AM
Reports from fellow mortgage professionals indicate improved mortgage rates this morning. The par 30 year conventional mortgage rate has fallen overn...
Tue, Dec 8 2009, 9:00 AM
Rate sheet influential MBS coupons are starting out the session in FACEMELTING status. The FN 4.0 is +0-18 at 99-23 yielding 4.035% and the FN 4.5 is ...
Tue, Dec 8 2009, 5:33 PM
Taking things one day at a time, we'd have to point out that we're once again closing over 102-00... For any you're floating into tomorrow, pay close...
Tue, Dec 8 2009, 4:04 PM
Heading into 5pm "going out" marks, trading flows in the agency MBS market are few and far between. The FN 4.0 is+0-04 at 99-09 yielding 4.099%. The F...
Tue, Dec 8 2009, 2:02 PM
As benchmark TSY rates re-test higher yield levels, trading flows in the TBA MBS market have fizzled out. We went from every offer getting lifted to d...
Mon, Dec 7 2009, 11:32 AM
In an orderly sell off, traders test individual price levels to determine what the market is willing to accept/not accept. This "probing" combined wi...
Mon, Dec 7 2009, 8:35 AM
After moving outside the range in holiday trading conditions in the week before, rates backed-up in a hurry last week as traders took profits, unwound...
Mon, Dec 7 2009, 3:39 PM
Looks like consumers are leaning on their credit cards again....In October, consumers reduced outstanding debt by $3.5 billion, much less than the $9....
Mon, Dec 7 2009, 1:48 PM
Bottom line: everybody is fond of saying that lenders will take away faster than they give it back and it's very likely that Friday was no exception f...
Mon, Dec 7 2009, 1:02 PM
The four day streak of rising mortgage rates extended into Friday following a much better than expected Non-farm payroll report. After reaching 4.50% ...
Fri, Dec 4 2009, 12:57 PM
Today’s report is great news for our economy....unfortunately great news for the economy is better for stocks than bonds. Following the release at 830...
Fri, Dec 4 2009, 10:47 AM
Fri, Dec 4 2009, 8:29 AM
Rates are higher after the data....After coming to a rest directly in the middle of the range ahead of the data, the 10yr is now testing the upper lim...
Fri, Dec 4 2009, 3:29 PM
We are sticking with our strategy heading into year end. PLAY THE RANGE UNTIL THE RANGE PLAYS YOU.
Thu, Dec 3 2009, 12:03 PM
Tomorrow we get the most important economic report, the Employment Situation. If this data indicates fewer job losses than expected, mortgage rates ...
Thu, Dec 3 2009, 11:34 AM
