ARCHIVED BLOG POSTS
2009
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MBS prices are down -12/32 (FNMA 30-yr 4.5 at 100.22), below the initial price level at -3/32. Most lenders have already issued an unfavorable reprice. No economic data came out today. A rally in the stock market pushed MBS markets lower late in the session. The Dow rose 180 points. Tomorrow, PPI...
07/13/2009
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The most significant economic data this week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Tuesday. The Consumer Price Index (CPI), the most closel...
07/13/2009
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With a light schedule for economic data, Treasury auctions had the greatest impact on mortgage rates during the week. Strong demand for the auctions and declines in the stock market helped mortgage rates end the week lower. In recent months, mortgage rates have been heavily influenced by concern...
07/13/2009
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MBS prices are up +13/32 (FNMA 30-yr 4.5 at 100.69), above the initial price level at +1/32, and near the high for the day. No economic data came out today. Extremely strong demand for the 10-yr Treasury auction lifted MBS markets, and foreign investors purchased 44% of the total. Oil prices fel...
07/08/2009
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MBS prices are up +6/32 (FNMA 30-yr 4.5 at 100.28), above the initial price level at +1/32, and at the high for the day. No economic data came out today. Weakness in the stock market helped MBS markets. Demand for the 3-yr Treasury auction was relatively strong, but the yield was a little higher...
07/07/2009
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MBS prices are up +4/32 (FNMA 30-yr 4.5 at 100.09), above the initial price level at -5/32, and at the high for the day. It was a quiet session, and MBS prices drifted higher for most of the day. The ISM Services index came in at 47.0, above the consensus forecast of 46.0. Oil prices fell $3 per ...
07/06/2009
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The Unemployment Rate climbed to the highest level since 1983 April Pending Home Sales rose for the fourth straight month The European Central Bank (ECB) held rates unchanged HUD announced that the LTV requirement for the Making Home Affordable plan will be raised to 125% from 105% Future Treas...
07/02/2009
There was very little daily movement in mortgage rates during the holiday-shortened week, and they ended the week nearly unchanged. The economic news during the week contained few surprises. Following better than expected results for May, investors were closely watching the June Employment report...
07/02/2009
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MBS prices are up +3/32 (FNMA 30-yr 4.5 at 100.07), above the initial price level at +2/32. Today's weaker than expected Employment data helped MBS markets and hurt the stock market. The Dow is down 180 points. For the week, MBS markets gained about +5/32. MBS markets closed early at 2:00 et toda...
07/02/2009
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MBS prices are up +6/32 (FNMA 30-yr 4.5 at 99.88), above the initial price level at -7/32. Today's economic data all came in very close to the consensus forecasts. April Pending Home Sales rose for the fourth straight month, increasing slightly from March. Pending Home Sales are a leading indica...
07/01/2009
