| Real Estate News |
MBS CLOSE: What Can Today Tell Us About Tomorrow?
Wed, 10 Mar 2010 22:13:00 GMT
Posted To: MBS CommentaryThis is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable question always asks for tomorrow's MBS prices today. Forgetting for a moment..[read more]
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Mortgage Rates Rise Ahead of Treasury Auction. Fail to Recover Afterward
Wed, 10 Mar 2010 21:48:29 GMT
Posted To: Mortgage Rate WatchMuch like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury de..[read more]
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MBS AFTERNOON: Mortgages Playing Follow the Leader with Benchmarks
Wed, 10 Mar 2010 20:23:00 GMT
Posted To: MBS CommentaryHeading into the 5pm "what a slow day in the mortgage market" marking period... The FN 4.0 is -0-03 at 98-01 yielding 4.189% and the FN 4.5 is flat on the day at 101 the rock yielding 4.39%. The secondary market cur..[read more]
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FICO: Americans More Likely to Default on Mortgages than Credit Cards
Wed, 10 Mar 2010 19:26:50 GMT
Posted To: MND NewsWireAmerican consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically uni..[read more]
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MBS LUNCH: 10 Year Treasury Auction Results and Reactions
Wed, 10 Mar 2010 18:08:00 GMT
Posted To: MBS Commentary10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down on..[read more]
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Loan Demand Stagnates. Only One Bright Spot in the Production Slowdown
Wed, 10 Mar 2010 17:09:00 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortga..[read more]
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MBS MORNING: Losing Ground As Benchmarks Back Up
Wed, 10 Mar 2010 17:05:00 GMT
Posted To: MBS Commentary4.5 MBS down 6 ticks to 100-26 10yr Tsy about 5bps higher at 3.743 (vs. 5pm yesterday) Wholesale Trade Improves from -.8% to -.2%, but misses expectation of +.2%, no one cares Pre-Auction Concession + range dynamics weigh on ..[read more]
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Underwriters: Loan Quality Still in Need of Improvement; Interesting FICO Score Data; Will the Fed sell their MBS Holdings?
Wed, 10 Mar 2010 16:22:39 GMT
Posted To: Pipeline PressAt the last company Christmas party, loan agents lined up on one side of the room and the underwriters on the other side. The loan agents throw fire cracker at the underwriters...and the underwriters lit them and threw them b..[read more]
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MBS OPEN: Rates Ticking Higher Just Because They Can
Wed, 10 Mar 2010 13:40:00 GMT
Posted To: MBS CommentaryGood Morning. I've had some great coaches in my lifetime...none better than my high school/juniors hockey skipper. Many of the messages he bestowed upon me have carried over from the locker room into my professional life...[read more]
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The Day Ahead: Inventories, Budget Statement, Treasury Auction
Wed, 10 Mar 2010 13:22:03 GMT
Posted To: MND NewsWireInvestors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afternoon’s budget statement, so it could be a quiet day if investors..[read more]
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Explaining The MBS Settlement Process
Tue, 09 Mar 2010 21:51:00 GMT
Posted To: MBS Commentary10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But the..[read more]
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Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
Tue, 09 Mar 2010 20:45:28 GMT
Posted To: MND NewsWireCommercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Ba..[read more]
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HUD Enforcing Job Creation Requirements for State and Local Governments
Tue, 09 Mar 2010 20:37:53 GMT
Posted To: MND NewsWireThe Department of Housing and Urban Development (HUD) has released the results of the first stage of its increased oversight and enforcement of job creation requirements under Section 3 of the Housing and Urban Development Act ..[read more]
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MBS AFTERNOON: Potential Reprices For The Better
Tue, 09 Mar 2010 20:01:00 GMT
Posted To: MBS CommentaryMBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly likely From the Ninja: Mortgages are still on hold..[read more]
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Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News
Tue, 09 Mar 2010 19:56:05 GMT
Posted To: The Garrett Watts ReportWe commented last week how a lot of people didn’t know what HSBC stood for... If you go back to when they bought a bank in Buffalo, New York to established themselves in the U.S. The joke was that HSBC stood f..[read more]
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MBS LUNCH: 3 Year Note Auction Results And Reaction
Tue, 09 Mar 2010 18:19:00 GMT
Posted To: MBS CommentaryImmediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day, up 1 tick at 101-07. The 10yr note is also up a t..[read more]
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MBS MORNING: Fed President Reminds About Labor Market Weakness
Tue, 09 Mar 2010 16:23:00 GMT
Posted To: MBS CommentaryI am kinda bummed no one laughed at my Kathy Ireland reference in MBS OPEN . Her dress was so tight you could see her liver processing the booze (that's a rumor). I suppose I could have poked fun at Sarah Jessica Parker&#..[read more]
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Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat
Tue, 09 Mar 2010 16:05:19 GMT
Posted To: Mortgage Rate WatchAfter last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices of mortgage backed securities never moved too..[read more]
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Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
Tue, 09 Mar 2010 15:29:25 GMT
Posted To: Pipeline PressOften I start the commentary off saying something witty, but I couldn't think of anything clever so I thought I'd suggest you take a look at this video about, of all things, seat belts. It is making the rounds, and wi..[read more]
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MBS OPEN: Flight to Quality in Light Trading Volume
Tue, 09 Mar 2010 13:46:00 GMT
Posted To: MBS CommentaryGood Morning. Happy Standardized Test Tuesday! My nephew has Maryland School Assessment tests today, we were pre-gaming this morning. I remember those days pretty well...mostly because they were so incredibly boring and slow...[read more]
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The Day Ahead: Stocks Dip on Sovereign Debt Fears Abroad. Treasuries Get Flight to Quality
Tue, 09 Mar 2010 13:08:47 GMT
Posted To: MND NewsWireEquity futures are firmly lower this morning following a mixed session yesterday. The Dow looks to open 31 points lower at 10,507 while futures on the S&P 500 are off 4.25 points to 1,132.75. “The mood in global marke..[read more]
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MBS CLOSE: Strong Vs. Treasuries, But Lackluster Day All Around
Mon, 08 Mar 2010 22:05:00 GMT
Posted To: MBS CommentaryNo material change since 10:30AM MBS 4.5's unchanged on the day at 101-07 10yr note 4bps higher on the day to 3.72 Stocks were up, down, up, closed flat No data tomorrow either, then 3yr note auction at 1pm Fed Evans at 9..[read more]
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MBA: Servicing Specialists Should Not be Required to Obtain SAFE Act Licensing
Mon, 08 Mar 2010 20:35:01 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA), American Bankers Association (ABA), and the American Financial Services Association (AFSA) joined with 11 state and local mortgage lending groups on Friday to send a letter to the U.S. De..[read more]
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GSEs: Long Term Rates Again Below 5 Percent
Mon, 08 Mar 2010 20:11:40 GMT
Posted To: MND NewsWireMortgage rates reversed course yet again during the week ended March 4 with the 30-year fixed-rate mortgage (FRM) once more falling below 5 percent. According to Freddie Mac's Primary Mortgage Market Survey, the 30-year FRM..[read more]
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MBS AFTERNOON: Extremely Quiet Day Winding Down
Mon, 08 Mar 2010 20:10:00 GMT
Posted To: MBS Commentaryridiculously flat trading in MBS and Tsy's low volume, sparse data calendar, looking toward auctions Did we mention flat trading? You'll rarely see MBS and Treasuries trade this flat for this much of the day. From 10:..[read more]
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