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MBS MID-DAY: Holding Near Intraday Lows
Posted by: | CommentsPosted To: MBS Commentary
MBSonMND : MBS MID-DAY Open MBSonMND Dashboard FNMA 3.5 94-27 : -0-15 FNMA 4.0 98-29 : -0-14 FNMA 4.5 101-31 : -0-15 FNMA 5.0 104-21 : -0-14 GNMA 3.5 95-27 : -0-15 GNMA 4.0 100-14 : -0-13 GNMA 4.5 103-12 : -0-13 GNMA 5.0 106-01 : -0-12 FHLMC 3.5 94-22 : -0-16 FHLMC 4.0 98-22 : -0-16 FHLMC 4.5 101-26 : -0-17 FHLMC 5.0 104-15 : -0-15 Pricing as of 11:00 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard . 10:51AM : Support Continues to Hold for MBS and Treasuries After putting in their weakest levels of the morning following news that Treasury will begin to sell their MBS holdings, 10yr benchmarks and FNCL 4.5’s are progressing sideways in a tight range just off those lows. 10yr yields are currently at 3.347 and haven…(read more)
Posted To: Pipeline Press
Last Thursday, while on a tour of the Chicago Mercantile Exchange, my son and I met and chatted with Rick Santelli, who many know as CNBC’s financial futures reporter at the CME (CBOT). I mention this because when I told him that I was there to speak at a Fannie Mae regional meeting, he launched into a dissertation about how better off the mortgage industry would be if the government ended all of its involvement, specifically supporting the agencies. He feels very strongly about this, and certainly has a media audience. Businessman Steve Forbes, who also has great access to the media, agrees – he is pushing for a complete and immediate severance of all the government’s ties to the GSE’s . (I guess that would turn them from “GSE’s” to plain “Mortgage Enterprise’s”?) Forbes believes that a sharp…(read more)
The Week Ahead: Home Sales, GDP, Japan, Libya
Posted by: | CommentsPosted To: MBS Commentary
While mostly overlooking a dense economic calendar last week, investors were forced to base their trading behavior on breaking news headlines and events. Mortgage rates benefited from a “flight to safety”, but it was a roller coaster ride. There were large spikes and big drops. An abundance of chaos if you will. Much of the storyline has yet to develop in Japan, Northern Africa, and the Middle East. Thus we’d expect breaking headline news to dictate the direction of mortgage rates this week too . Equity futures rose sharply overnight as Japanese emergency forces were able to restore power to nuclear plants, prompting the Prime Minister to speak of “light at the end of the tunnel.” S&P 500 futures are 14.75 points higher at 1,289.00 and Dow futures are 112 points higher at 11,911 “Continued…(read more)