ARCHIVED BLOG POSTS
2009
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Several Fed officials have delivered speeches this week. Today, Fed Vice Chairman Kohn maintained a similar theme to the other speakers. He suggested that low inflation and unused capacity in the economy will allow the Fed to keep the fed funds rate low for quite a while. When it's time to remove...
09/30/2009
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MBS prices are down -3/32 (FNMA 30-yr 4.5 at 101.25), above the initial price level at -4/32, and at the high for the day. Despite weaker than expected Chicago PMI manufacturing data, MBS prices stayed in a range today. The Dow is down 40 points. Tomorrow will be a busy day with Personal Income, ...
09/30/2009
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The Case-Shiller housing price index fell 13.8% in July when compared to July '08, which was a much smaller decline than expected, and MBS prices fell on the early morning news. Later at 10:00 et, the Conference Board announced that consumer confidence in September was measured at 53.1. A measure...
09/29/2009
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MBS prices are even (FNMA 30-yr 4.5 at 101.34), above the initial price level at -5/32. MBS prices fell early after better than expected home price information was announced and then recovered mid-morning on weaker than expected Consumer Confidence. Second quarter Final GDP will be released tomo...
09/29/2009
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MBS prices are +7/32 (FNMA 30-yr 4.5% at 101.34), above the initial price level at +2/32. No economic data was released today. today was a one of the rare days when it was a good day for both mortgage prices and stock prices as the Dow rose over 100 points to close at 9789. September Consumer Con...
09/28/2009
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As expected, the Fed made no change in the fed funds rate on Wednesday. Although there was much disagreement about what the statement would say, in general it contained the minimum number of surprises. The Fed offered its most optimistic view on the economy since the recession began, yet official...
09/28/2009
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MBS prices are up +6/32 (FNMA 30-yr 4.5 at 101.12), above the initial price level at +1/32. August Durable Orders were weaker than expected, while Consumer Sentiment came in above the consensus forecast. August New Home Sales rose slightly to the highest level since September 2008, but fell short...
09/25/2009
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The Fed purchased $23.0 billion in agency MBS during the weekly period ending September 23, from $25.5 billion the prior week. Freddie Mac reported that average mortgage rates were flat in the week through September 24, with 30-yrs hitting 5.04%, from 5.04% the prior week. Per Fed minutes, altho...
09/25/2009
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MBS prices are up +9/32 (FNMA 30-yr 4.5 at 100.30), above the initial price level at +4/32, and at the high for the day. Weaker than expected Existing Home Sales lifted MBS markets. August Existing Home Sales fell 2.7% to an annual rate of 5.10M units, below the consensus of 5.35M units. First-t...
09/25/2009
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MBS prices are up +2/32 (FNMA 30-yr 4.5 at 100.62), above the initial price level at -5/32, and near the high for the day. No-one issued a reprice, either way. No economic data came out today. MBS prices dropped to a low of -12/32 following the 5-yr auction, but they later moved higher after the ...
09/23/2009
