ARCHIVED BLOG POSTS
2009
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MBS prices are up +12/32 (FNMA 30-yr 4.5 at 99.00), at the initial price level at +12/32. It was a quiet session. No economic data came out today. The World Bank revised lower its forecast for world economic growth, and the news helped MBS markets today. The Dow fell 200 points. Oil prices droppe...
06/22/2009
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With major economic data, Treasury auctions, and a Fed meeting, next week will be a busy one. Existing Home Sales and New Home Sales on Tuesday and Wednesday will provide a look at activity in the housing sector. Also on Wednesday, Durable Orders will be an important indicator of overall economic...
06/19/2009
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The -1.3% decline in CPI from one year earlier was the largest annual decline since 1950 Continuing Jobless Claims fell for the first time in twenty weeks The Fed's Bullard predicted that the economy will begin to improve during the third quarter The Fed purchased $20 billion in agency MBS during...
06/19/2009
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Tame inflation data helped mortgage rates move lower early in the week, but stronger than expected economic data turned them higher later in the week, leaving mortgage rates nearly unchanged from last week. The announcement of larger than expected Treasury auctions next week ($104 billion) also w...
06/19/2009
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MBS prices are up +12/32 (FNMA 30-yr 4.5 at 98.62), above the initial price level at -6/32, and at the high for the day. A volatile session capped off a week full of large MBS price movements. MBS prices dropped to a low of -8/32 and then turned higher. No economic data came out today. The Dow f...
06/19/2009
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MBS prices are down -37/32 (FNMA 30-yr 4.5 at 98.22), far below the initial price level at -6/32. Stronger than expected economic data began a selloff which gained momentum during the session. The Philly Fed index came in at -2.2, well above the consensus forecast of -17.0. Leading Indicators al...
06/18/2009
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President Obama today proposed broad new rules for regulating the financial system. One proposal under the Obama plan would create a consumer protection agency which would have the authority to set rules for the mortgage industry. Some of the possible changes would be beneficial for the mortgage ...
06/17/2009
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MBS prices are down 5/32 (FNMA 30-yr 4.5 at 99.38), below the initial morning price at +8/32, and far below the high for the day of +17/32. Favorable repricing took place, and unfavorable repricing happened or is on the way due to a late decline in MBS prices. The CPI inflation data came in lower...
06/17/2009
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MBS prices are up +20/32 (FNMA 30-yr 4.5 at 99.53), above the initial price level at -1/32, and at the high for the day. Today's mixed economic data had little impact on MBS markets, leaving investors to watch the stock market for guidance. A decline in stocks lifted MBS markets, as the Dow fell ...
06/16/2009
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The most significant economic data next week will be the monthly inflation reports. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products and will come out on Tuesday. The Consumer Price Index (CPI), the most closel...
06/15/2009
