ARCHIVED BLOG POSTS
2009
Early in the week, a forecast from the Fed that inflation should remain low for the next couple of years moved mortgage rates lower. The economic news later in the week was less favorable for mortgage rates, however. Strong earnings reports produced a rally in the stock market, which pushed mortg...
07/24/2009
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MBS prices are up +3/32 (FNMA 30-yr 4.5 at 99.56), above the initial price level at -3/32. It was a quiet session. Consumer Sentiment came in a little higher than expected. Bernanke spoke about financial regulation, but his comments had no influence on MBS markets. The Dow rose 25 points. For the...
07/24/2009
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MBS prices are down -4/32 (FNMA 30-yr 4.5 at 100.12), below the initial price level at -2/32. MBS prices held in a range for the entire session. No economic data came out today. Fed Chairman Bernanke's second day of testimony basically covered the same ground as yesterday. FHFA reported that May ...
07/22/2009
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MBS prices are up +22/32 (FNMA 30-yr 4.5 at 100.25), well above the initial price level at -5/32, and at the high for the day. Most investors issued favorable reprices at least once. No economic data came out today. MBS markets rallied following Fed Chairman Bernanke's testimony. In short, Bernan...
07/21/2009
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MBS prices are up +8/32 (FNMA 30-yr 4.5 at 99.56), above the initial price level at -8/32, and near the high for the day. Today's report on Leading Indicators had little impact. MBS markets rallied ahead of Fed Chairman Bernanke's testimony tomorrow. Investors want to be prepared in case Bernanke...
07/20/2009
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The economic calendar will be very light next week. Leading Indicators will come out on Monday, Existing Home Sales will be released on Thursday, and Consumer Sentiment will come out on Friday. In addition to the economic data, Fed Chief Bernanke will be testifying before Congress on Tuesday. Fin...
07/17/2009
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While the economic data released during the week generally matched expectations, the outlook for future economic growth improved due to strong earnings reports, tame inflation data, and a revised forecast from the Fed. Stronger economic growth was good news for the stock market, and the Dow rose ...
07/17/2009
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MBS prices are down -8/32 (FNMA 30-yr 4.5 at 99.34), flat at the initial price level. Stronger than expected Housing Starts data caused MBS markets to finish a down week even lower. The Dow rose 30 points. For the week, MBS markets lost about -39/32. Economic News June Core CPI inflation rose at ...
07/17/2009
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MBS prices are up +18/32 (FNMA 30-yr 4.5 at 99.62), above the initial price level at +10/32. Reversing some of the losses from the first three sessions this week, MBS markets moved higher today. Jobless Claims came in a little stronger than expected, while the Philly Fed index fell short of the ...
07/16/2009
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MBS prices are down -12/32 (FNMA 30-yr 4.5 at 99.84), below the initial price level at -9/32, and at the low for the day. Today's economic data had little impact. Talk of a faster than expected economic recovery hurt MBS markets. The Dow rose 25 points. Tomorrow, CPI, Industrial Production, Empir...
07/14/2009
