Thu, Oct 14 2010, 8:28 AM
Benchmark interest rates traded in a tight range overnight near yesterday's yield lows while equity futures ticked sideways near yesterday's highs. Cu...
Thu, Oct 14 2010, 2:07 PM
Lock desks have plenty of pipeline coverage after selling forward about $5.5 billion in loan supply over the past two days. That left dealers long yes...
Wed, Oct 13 2010, 8:42 AM
The yield curve is steeper and benchmark interest rates are higher ahead of a $21 billion 10-year Treasury note auction. The 2s/10s curve is 3bps stee...
Wed, Oct 13 2010, 2:51 PM
"Rate sheet influential" TSYs have found a bid after running into a key technical support level. To the delight of the dealer community, flows have sh...
Wed, Oct 13 2010, 1:01 PM
It is widely anticipated that the Fed will announce QEII in the not so distant future, which should push bond prices higher and lead yields lower. Fro...
Tue, Oct 12 2010, 9:37 AM
The December FNCL 3.5 is trading +0-08 at 101-03. Trading flows are thin ahead of the 3 year note auction and FOMC minutes but rates are recovering fr...
Tue, Oct 12 2010, 8:55 AM
The holiday shortened week ahead is filled with data, Federal Reserve speakers, debt auctions, and the beginning of earnings season
Tue, Oct 12 2010, 5:39 PM
After a slow overnight session that left rates better bid heading into the domestic trading day, benchmark TSY yields and rate sheet influential MBS p...
Tue, Oct 12 2010, 2:03 PM
"Although participants considered it unlikely that the economy would reenter a recession, many expressed concern that output growth, and the associate...
Tue, Oct 12 2010, 1:08 PM
Treasury has just auctioned $32 billion 3-year notes. Even though the market did its best to let the issue cheapen, record low yields and a generally ...
Fri, Oct 8 2010, 10:19 AM
I have waited and waited and waited to do this but I think I can safely award the 3.5 MBS with the official production coupon designation. YAY! 30 ye...
Fri, Oct 8 2010, 8:40 AM
QUICK RECAP: NFP: -95K vs. call for UNCH vs. Aug -57K. Private Sector +64K jobs vs. call for +75. vs. +93K in August. Government job cuts total 159K v...
Fri, Oct 8 2010, 7:58 AM
Economists polled by Reuters currently believe the report will show the labor market was flat last month after 54k jobs were lost in August. Private e...
Fri, Oct 8 2010, 3:37 PM
If you haven't gotten a reprice for the worse yet, you will be soon. If you have gotten a reprice for the worse, I don't rule out another round of reb...
Fri, Oct 8 2010, 1:00 PM
The primary mortgage market just got more competitive! Lenders are begging consumers to lock in their loans!!!
Thu, Oct 7 2010, 12:59 PM
Can it get any better than this? Sure. Not all lenders are offering 3.875% pricing yet, some desks need to catch up. If we hold at record MBS price le...
Thu, Oct 7 2010, 8:49 AM
If the data doesn't match expectations, 10s would move into the low 2.30s% and rebate would improve a few more bps while MBS would lag a continued ral...
Thu, Oct 7 2010, 8:26 AM
Benchmark interest rates are marginally higher and equity futures are mixed following an awful report Wednesday on private employment from Automatic D...
Wed, Oct 6 2010, 12:46 PM
Spurred on by a weak preview of official labor market data to come, the bond market upped the anti on quantitative easing this morning when the 10 yea...
Wed, Oct 6 2010, 8:17 AM
ADP says: "The decline in private employment in September confirms a pause in the economic recovery already evident in other data. A deceleration of e...
Wed, Oct 6 2010, 8:05 AM
Good Morning. Both stocks and bonds are both rallying (again) ahead of the ADP Employment Report.
Wed, Oct 6 2010, 5:58 PM
Fed Policy: CLEARLY ON EVERYONE'S MIND. Including mortgage rate watchers....
Tue, Oct 5 2010, 10:25 AM
Rate sheet influential MBS coupons have been generally stable since ISM flashed. Yield spreads are however wider as origination supply has picked up ...
Tue, Oct 5 2010, 8:27 AM
After briefly breaking range support in a thinly traded marketplace yesterday, equity futures are recovering this morning as investors await a key ISM...
Mon, Oct 4 2010, 11:55 AM
MBS prices are moving higher as stocks tick deeper into the red. If your lender was a little lite on the rebate this AM...you might see reprices for t...
Mon, Oct 4 2010, 8:50 AM
The dominant headline this week will be Friday’s jobs report for September, which is expected to show growth in the private sector was offset by gover...
Mon, Oct 4 2010, 6:18 PM
While there's still room for prices to run higher (7/32), if you're into playing pivot points,MBS prices are due a reversal. Back month FNCL 4.0s have...
Fri, Oct 1 2010, 10:36 AM
Bill Dudley's dovish comments are still the primary focus of the bond market, but 10am helped move the needle in an originator friendly direction.
Fri, Oct 1 2010, 8:31 AM
Personal Income and Spending data has been released. Spending rose 0.4%. Income improved 0.5%. Both metrics were slightly better than expected but wel...
Fri, Oct 1 2010, 8:19 AM
The day ahead is filled with data and fedspeak and both stocks and bonds are ready to react to whatever crosses wires. Ninety minutes before the bell ...
Fri, Oct 1 2010, 4:50 PM
The main driver behind the bond market at the moment is the potential for further Federal Reserve quantitative easing. This means economic data will p...
Thu, Sep 30 2010, 12:08 PM
Stop the presses! After touching 4.5 month highs following the release of Chicago PMI data at 9:45, profit taking has led stocks back into the red. S...
Thu, Sep 30 2010, 9:46 AM
Chicago PMI printed at 9:45. It was much much better than expected, led by gains in the new orders index. The prices paid index on the other hand fell...
Thu, Sep 30 2010, 8:34 AM
830AM data has been released. Both Jobless Claims and final Q2 GDP beat consensus estimates (barely). Stock futures better, benchmark bond yields up, ...
Thu, Sep 30 2010, 8:23 AM
On this final day of September and final day of the 3rd quarter, after a busy overnight session in which Ireland’s finance minister declared his count...
Wed, Sep 29 2010, 11:35 AM
With rebate already a few bps weaker on the open, reprices for the worse don't appear to be an issue at the moment. However if 2.50% support is broke...
Wed, Sep 29 2010, 8:28 AM
Benchmark interest rates are modestly higher and equity futures are mixed as investors prepare for a dataless U.S. trading session, this puts the focu...
Wed, Sep 29 2010, 5:06 PM
The November FNCL 4.0 ended the day -0-07 at 102-14. The intraday low was 102-13. The high was 102-24. I've got the production coupon marked at 3.637%...
Wed, Sep 29 2010, 1:10 PM
We had three Treasury auctions this week. All three issues were offered at record low yields, yet demand remained strong. Makes you feel like mortgage...
Tue, Sep 28 2010, 10:00 AM
Loan pricing was 10.2 bps better on average yesterday but rate sheet influential MBS prices were up about 0.375bps. Most lenders didn't reprice for th...
Tue, Sep 28 2010, 9:04 AM
JULY 20-METRO AREA HOME PRICES UNADJUSTED +0.6 PCT (CONSENSUS +0.4) VS +1.0 PCT IN JUNE - S&P/CASE-SHILLER. 20-METRO AREA HOME PRICES +3.2 PCT (CONSEN...
Tue, Sep 28 2010, 8:40 AM
Interest rates are flat and global equities are mixed ahead of home price data,a key consumer confidence survey, and a $35 billion 5-year Treasury not...
Tue, Sep 28 2010, 5:15 PM
It happened yesterday but I didn't make a big deal about it because I wanted to see how lenders would play it out today. Then it happened again toda...
Tue, Sep 28 2010, 1:28 PM
Plain and Simple: In the first two auctions of the week we've seen extremely high demand at record low yields. This tells you that the bid for risk a...
Mon, Sep 27 2010, 12:07 PM
Mortgage-backeds are off to a slow start to the week. Not much activity to report. Price levels are nonetheless moving higher thanks to a turn around ...
Mon, Sep 27 2010, 9:09 AM
Stocks completed their fourth consecutive week of rallies last Friday while interest rates continued to chop around an originator friendly range. The ...
Mon, Sep 27 2010, 1:12 PM
This was a record low "high yield" for a 2-year note auction, yet investors were still more than willing to buy. Although the street took home the maj...
Fri, Sep 24 2010, 11:09 AM
The bad news is we're seeing benchmark yields tick higher today. The good news is loan pricing isn't too too terrible into these lower MBS levels. Reb...
Fri, Sep 24 2010, 8:23 AM
Benchmark interest rates are higher as U.S equity futures rally ahead of durable goods and housing data. In the afternoon, investors will also be reac...
Fri, Sep 24 2010, 1:08 PM
In the BIG PICTURE, disinflation turning into deflation is a more significant reason to believe the Fed would initiate another QE program. This rise ...
MBS Market Alerts
