ARCHIVED BLOG POSTS
2009
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MBS prices are up +19/32 (FNMA 30-yr 4.5 at 100.62), above the initial price level at -4/32, and at the high for the day. The Fed purchased $20.2 billion in agency MBS during the weekly period ending July 29, from $21.1 billion the prior week. Freddie Mac reported that average mortgage rates rose...
07/31/2009
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MBS prices are up +8/32 (FNMA 30-yr 4.5 at 100.00), above the initial price level at -4/32, and at the high for the day. MBS prices reached a low of -8/32. A rally in the stock market pushed MBS markets lower during the first half of the session. Strong demand for the 7-yr auction then turned MBS...
07/31/2009
The Mortgage Bankers Association weekly purchase activity index was unchanged, while the refinancing activity index decreased by 11%. Average reported rates for the prior week rose to 5.36% from 5.31% for 30-yr fixed mortgages. Tomorrow, Jobless Claims will be released at 8:30 et, and there will...
07/29/2009
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MBS prices are up +2/32 (FNMA 30-yr 4.5 at 99.75), below the initial price level at +7/32, but above the low for the day of -6/32. It was a quiet session before the 5-yr Treasury auction at 1:00 et. Demand was much weaker than expected for the auction, and foreign investors purchased 37% of the t...
07/29/2009
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The May Case-Shiller index of home prices in 20 metropolitan areas rose 0.5% from April, following 34 straight months of declines. While the results varied greatly in different parts of the country, the increase in average prices provided support for the analysts who believe that the housing mark...
07/28/2009
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MBS prices are up +8/32 (FNMA 30-yr 4.5 at 99.69), above the initial price level at +3/32, but below the high for the day of +18/32. Essentially, many investors bought MBS ahead of the 2-yr Treasury auction, anticipating very strong results. Although demand was about average for the auction, the...
07/28/2009
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Freddie Mac Chief Economist, Frank Nothaft, stated Wednesday, "recent housing data suggests... the worst may be behind us." He was correct. June New Home Sales jumped 11% to an annual rate of 384K units, well above the consensus forecast of 355K units, and the third straight month of increases....
07/27/2009
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MBS prices are down -4/32 (FNMA 30-yr 4.5 at 99.44), above the initial price level at -8/32. MBS prices spent the entire session in negative territory ahead of this week's large Treasury auctions. The Dow rose 15 points. Tomorrow, Consumer Confidence will be released at 10:00 et, and there will ...
07/27/2009
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The biggest economic report next week will be Friday's Gross Domestic Product (GDP) data for the second quarter of 2009. GDP is the broadest measure of economic activity. Prior to that, New Home Sales will come out on Monday. Durable Orders, another important indicator of economic activity, will ...
07/25/2009
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The Dow Jones Industrials stock index rose to the highest level since early January First-time homebuyers accounted for 29% of all transactions in June After falling below $60 per barrel recently, oil prices have risen to $67 per barrel The Fed purchased $21 billion in agency MBS during the week...
07/24/2009
