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Mortgage Rates Escape Three Treasury Auctions Unharmed

3/11/2010 5:05 PM

After two dataless days and no movement in mortgage rates, action picked up yesterday. Mortgage rates opened the day lower, however, thanks to big turnout at the 10 year Treasury note auction, enchmark yields rallied and mortgage-backed security prices moved higher into the close. ...Read More

Foreclosure Filings Drop. Prevention Policies Distorting Supply and Demand

3/11/2010 4:25 PM

Posted To: MND NewsWire

Today RealtyTrac® released its February U.S. Foreclosure Market Report. The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from January. A total of 308,524 properties in the United States received on...Read More

MBS CLOSE: On The Brink Of Something Epic?

3/11/2010 4:24 PM

Posted To: MBS Commentary

MBS end 1 tick down at 100-29 10yr Note Yield at 3.725 S&P up 5 points, all gains late in the day 30yr Auction pressures rates early and helps out late This one's a good read, and a tangible concept to share with clients and business partners Something Epic? Let's not g...Read More

MBS AFTERNOON: Volatility Fades As Bonds Cling To The Edge

3/11/2010 2:37 PM

Posted To: MBS Commentary

The Edge: Both MBS 4.5's and 10yr notes are UNCHANGED at the moment For MBS, that's 100-30 and for the 10yr, that's just under 3.73 Verdict on this auction cycle: undecided... waiting for retail sales tomorrow and FOMC next week The snake continues to coil, but who will...Read More

FHA Commissioner: Raising the Down Payment Requirement Would Hurt Housing Recovery

3/11/2010 1:40 PM

Posted To: MND NewsWire

Increasing the minimum down payment required for a Federal Housing Administration (FHA) loan from 3.5 percent to 5 percent could be a double whammy, affecting both potential homebuyers and the economy as a whole according to David H. Stevens, FHA Commissioner. At the same time, a lower loan to valu...Read More

MBS LUNCH: 30 Year Bond Auction Results and Reactions

3/11/2010 12:09 PM

Posted To: MBS Commentary

The previously discussed auction concession must have been sufficient because the long bond auction went very well. Overall, auction demand was well above average---2.89 bids were submitted for every one accepted by the Treasury. 82% of the auction was taken down at the high yield ...Read More

Mortgage Portmanteaus -- Brankers and Broanchers vs. Net Branches

3/11/2010 11:48 AM

Posted To: The Garrett Watts Report

A portmanteau means a blend of two or more words and their meanings into one new word. An example is the word brunch meaning breakfast +lunch. Another is smog meaning a combination of smoke and fog. Some would consider a portmanteau a type of word morphing and we agree. Mortgag...Read More

MBS MORNING: Supply Concessions Set Up. Targets Outlined

3/11/2010 10:37 AM

Posted To: MBS Commentary

The main theme in the rates market this morning has been a set up for the last Treasury auction of the week :$13 billion 30s. Results to be released at 1pm. The auction supply concession is obvious when looking at both price action outright as well as the long bond's performanc...Read More

Lenders Relaxing Non-Agency ARM Regs; High Cost Loan Reporting Guidance; Negative Convexity Defined; New Mortgagee Letter

3/11/2010 9:56 AM

Posted To: Pipeline Press

Who says numbers aren't fun? A top muni bond analyst at Wells Fargo sent THIS to me. Numbers are fun! Sometimes time drags, and sometimes it flies. I came to this brilliant observation yesterday while waiting in the California DMV, waiting for my 15 year old daug...Read More

MBS OPEN: Speculative Signs of Reversal in Benchmarks

3/11/2010 7:52 AM

Posted To: MBS Commentary

Good Morning. A nationwide strike has essentially shut down Greece. From the AP : "Thursday's strike — the second in a week — brought the country to a virtual standstill, grounding all flights and bringing public transport to a halt. State hospitals were left w...Read More