Mortgage and Interest News
Friday 11/21... Rally On5.5's are catching a rally, currently at 100-14+, 6 ticks up on the day and above the highs of the day. Reprices for better are a near certainty from all lenders. Float club lives on!!...(read more)
Friday 11/21...Still Improving5.5's are moving higher, currently at 100-09 which is up 1 tick on the day. Float club is in session right now, but stay tuned. A late day sell off is very possible, but you need to allow some time for lenders to price in the gains we are seeing....(read more)
Friday 11/21 ...Improving5.5's are picking up some, currently 100-06 just 2 ticks down on the day but well above the lows. Volatility remains....(read more)
MBS AFTERNOON ... Volatility Much?FN 5.5 30YR MBS = 100-00 .... -0-13 (13 ticks) Although lenders likely hedged for volatility, those that prices at the 100-04 level that held from 10AM to noon may be spooked just a bit by the selling that has taken place in the last 30 minutes which...(read more)
MBS MORNING: Rebounding Now..After falling all the way to 99-24, the Current MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 100-05 .... -0-12 (12 ticks) This is in the bottom of yesterday's trading range and there is excellent support around 100-02. If you don't have...(read more)
MBS OPEN : Treasuries leading the way down: MBS FollowCurrent MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 99-30 .... -0-19 (19 ticks) After blowing out to all time wide spreads yesterday, it's no surprise that we are tightening slightly this AM, but not nearly as much as we would like. On the...(read more)
Friday 11/21... Selling Pressure5.5's at 100-06+ which is down 7 ticks from opening. Still not doing as bad as Treasuries....(read more)
Friday 11/21 Morning UpdateCurrently the 5.5 is at 100-13 which is unchanged from going out levels yesterday. We are seeing a value bid at the start of trading. Currently 5 year US treasuries are down 17 ticks, and 10 yr treasury down 32 ticks after the biggest buy up in history...(read more)
Thursday 11/20 ...UpdateAt going out levels the 5.5 is at 100-13+, 12 ticks up on the day but still 4 ticks below the highs. The big winner today was treasuries which saw massive buying and are at all time low yields. We are closing at levels we have not seen in a while, so...(read more)
FN 5.5 +8/32 at 100-09Rumor of progressive developments regarding the debate on Capitol Hill over an automaker rescue package has boosted sentiment in equity markets. The FN 5.5's immediate reaction to the stock market bounce was a 6 tick (6/32) sell off from 100-08 to...(read more)
MBS UPDATE: Reprice Potential IncreasingNow off the highs : Current MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 100-05 .... +0-04 (4 ticks) A significant portion of lenders who released rates more than 30 minutes ago will be considering a reprice for the worse....(read more)
11/20 ... Downward Pressure ContinuesAs the Dow is moving into postive terrority, it is at the expense of mbs. Currently the 5.5 is at 100-07+ which is still up on the day by 6 ticks but well off the highs. If you lender was very aggressive with their rates this morning, they may consider...(read more)
MBS MID-MORNING: As the Panic Fades, Stocks Off The Floor A Bit and MBS off Their HighsCurrent MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 100-09 .... +0-08 (8 ticks) If a lender priced between 9:15 and 10:15 and came out aggressively, they may consider a .125 reprice for the worse. The more likely case is that lenders are conservative...(read more)
MBS MID-MORNING: Philly Fed Survey -39.3. MBS Stay Strong, but Tsy's still lead the way.Current MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 100-15 .... +0-14 (14 ticks) Philly Fed Survey: Down 39.3 versus prior reading of -37.5. Worse than consensus of -35.0 Leading Indicators Down -.8% versus consensus of -.6% So Far no appreciable...(read more)
MBS MORNING: Continuing price strength from Jobless Claims. Current MBS Price and Day Over Day Change: FN 5.5 30YR MBS = 100-11 .... +0-010 (10 ticks) - Jobless Claims in this morning at 542,000 - Continuing Claims crested 4 mln - 4 week moving average to 506k - Notwithstanding a one time spike in 1992, this is...(read more)
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