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 question always asks for tomorrow's MBS prices today. Forgetting for a moment that you'll usually LOSE more money thinking that wa...Read More
Much like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not str...Read More
Heading into the 5pm "what a slow day in the mortgage market" marking period... The FN 4.0 is -0-03 at 98-01 yielding 4.189% and the FN 4.5 is flat on the day at 101 the rock yielding 4.39%. The secondary market current coupon is 4.33%. The CC yield is 61bps over the 10yr...Read More
American consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO sc...Read More
10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down only 2 ticks on the day at 100-29 and 10yr yields are back ...Read More
The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a l...Read More
4.5 MBS down 6 ticks to 100-26 10yr Tsy about 5bps higher at 3.743 (vs. 5pm yesterday) Wholesale Trade Improves from -.8% to -.2%, but misses expectation of +.2%, no one cares Pre-Auction Concession + range dynamics weigh on 10's, MBS follow The movements in bonds this AM tells...Read More
At the last company Christmas party, loan agents lined up on one side of the room and the underwriters on the other side. The loan agents throw fire cracker at the underwriters...and the underwriters lit them and threw them back. A long-time underwriter wrote to me a...Read More
Good Morning. I've had some great coaches in my lifetime...none better than my high school/juniors hockey skipper. Many of the messages he bestowed upon me have carried over from the locker room into my professional life. One of my favorites is the K.I.S.S principle. KEEP IT SI...Read More
Investors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afternoon’s budget statement, so it could be a quiet day if investors prefer to postpone trading until retail sales figures hit the headlines...Read More
