ARCHIVED BLOG POSTS
2008
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MBS prices are up +1/32 (FNMA 30-yr 6.0 at 101.16), at the initial price level at +1/32. MBS markets dipped as low as -4/32, but it was a generally quiet session. Today's reports on Industrial Production and the Empire State index contained few surprises. The Dow fell 200 points, and oil prices f...
11/17/2008
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For mortgage markets, the biggest news of the week came from Treasury Secretary Paulson during an update on the $700 billion TARP rescue plan. Paulson surprised investors with the news that the Treasury has scrapped the original plan to purchase troubled assets from banks and will use the funds i...
11/14/2008
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MBS prices are up +4/32 (FNMA 30-yr 6.0 at 101.12), below the initial price level at +7/32. Retail Sales came in weaker than expected, while Consumer Sentiment was close to the consensus. In an interview, Treasury Secretary Paulson explained that the Treasury changed its strategy on deploying the...
11/14/2008
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MBS prices are up +14/32 (FNMA 30-yr 5.5 at 100.44), far above the initial price level at +5/32. Favorable repricing took place. No economic data came out today. A 400-point decline in the Dow lifted MBS markets. The 10-yr Treasury auction saw average demand, and foreign investors purchased 36% o...
11/12/2008
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MBS prices are up +1/32 (FNMA 30-yr 5.5 at 100.62), far above the initial morning price level at -14/32, and at the highest level since early this morning. It was an extremely volatile session, and favorable repricing was seen. Over the last couple of days, investors appear to have lowered their ...
11/06/2008
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MBS prices are up +13/32 (FNMA 30-yr 6.0 at 101.66), above the initial price level at +10/32. Today's economic data was favorable for MBS markets. The ISM Services index fell to a record low of 44.4, below the consensus of 47.0, and the ADP estimate for Friday's Employment report predicted more j...
11/05/2008
