ARCHIVED BLOG POSTS
2009
0
Comments
MBS prices are down -7/32 (FNMA 30-yr 4.0 at 99.97), above the morning price level at -8/32. It was a quiet session. No economic data came out today. The inauguration had little impact. The Dow fell 330 points. No economic data will be released tomorrow.
01/20/2009
0
Comments
Despite weak economic data and sizable Fed purchases of mortgage-backed securities (MBS), mortgage rates actually rose a little during the week. After falling by more than 1.0% since late November, mortgage rates have resisted any move lower over the last couple of weeks, even with extremely bond...
01/16/2009
0
Comments
MBS prices are down -10/32 (FNMA 30-yr 4.0 at 100.19), below the 9:45 et pricing level of -5/32. Today's economic data had litt4e impact. MBS prices fell late in the session on light volume. The Dow is down 20 points. For the week, MBS prices fell about -29/32. The Bond Market Association recomme...
01/16/2009
0
Comments
MBS prices are down -3/32 (FNMA 30-yr 4.0 at 100.66), below the 9:45 et pricing level of +2/32. Unfavorable repricing took place. Today's economic data had little impact. PPI inflation came in close to the consensus, while the regional manufacturing data was a little stronger than expected. More ...
01/15/2009
0
Comments
MBS prices are up + 3/32 (FNMA 30-yr 4.0 at 100.84), above the initial price level at -1/32. It was a quiet session. The Trade Balance data had little impact. Comments from Fed Chief Bernanke also produced little reaction in MBS markets. The Dow fell 30 points. Tomorrow, Retail Sales and Import P...
01/13/2009
0
Comments
MBS prices are down -1/32 (FNMA 30-yr 4. at 100.75), above the morning price level at -4/32. It was a volatile session, and both favorable and unfavorable repricing took place. No economic data came out today. Longer-term Treasuries posted significant gains. The Dow fell 125 points. Oil prices dr...
01/12/2009
Weak economic data and strong demand for mortgage-backed securities (MBS) helped mortgage rates remain at historically low levels during the week. Refinancing activity has increased dramatically as borrowers have rushed to take advantage of low rates. As a result, backlogs have developed at almos...
01/09/2009
0
Comments
MBS prices are even (FNMA 30-yr 4.0 at 100.78), above the initial price level at -1/32. MBS markets reached a high of +5/32. The Employment report came in very close to expectations and produced little reaction. The Dow fell 150 points. Oil prices dropped to $40 per barrel. For the week, MBS pric...
01/09/2009
0
Comments
MBS prices are down -3/32 (FNMA 30-yr 4.5 at 102.47), above the initial price level at -8/32. After a record lock day yesterday and cautious morning pricing; some investors reissued favorable repricing this afternoon. After spending most of the session in negative territory, MBS markets finished ...
01/07/2009
0
Comments
MBS prices are up +12/32 (FNMA 30-yr 4.5 at 101.53), below the initial price level at +19/32. First unfavorable and later favorable repricing was seen. It was a volatile session. MBS markets were helped by an announcement from the Fed that it began buying MBS today, in accordance with its $500 bi...
01/05/2009
