| Real Estate News |
MBS CLOSE: Uneventful End To Uneventful Day
Mon, 08 Feb 2010 22:15:00 GMT
Posted To: MBS CommentaryThough MBS were not quite as thinly traded as treasuries (lowest volume since the first trading day of 2010), the picture wasn't much better. At least that which is at risk on low volume days--volatility due to the tradin..[read more]
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Housing Needs Job Creation. What Sort of Jobs Though?
Mon, 08 Feb 2010 22:03:34 GMT
Posted To: Voice of HousingMr. O’Reilly (December 01, 2009) claims that the “new” root cause of the housing crisis is the (lack of) “jobs, jobs, jobs.” So the solution to the crisis must be (the creation of) “jobs,..[read more]
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Centralized Lock Desks Serve as a Gate Keeper. Source of Revenue
Mon, 08 Feb 2010 20:54:00 GMT
Posted To: The Garrett Watts ReportThis was the half time scene in Miami last night at Super Bowl XLIV... I am sure many watchers were thinking: Why The Who? Maybe some of us in our 60s and 70s need to be “put out to pasture” or start &ld..[read more]
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MBS AFTERNOON: Narrow And Stable Heading Into The Close
Mon, 08 Feb 2010 20:32:00 GMT
Posted To: MBS CommentaryThe market is duller than a Colts victory parade at the moment. We're dealing with a fairly standard issue "calm before the storm" that we often see on a data-limited Monday when the rest of the week contains th..[read more]
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MBS LUNCH: Well Off Friday's Highs, But Holding Ground
Mon, 08 Feb 2010 19:06:00 GMT
Posted To: MBS CommentaryAs AQ pointed out this morning, today's slightly downward trend in MBS price began in the final hours of Friday's trading. Both MBS and Treasuries put in their best marks of the day just before 2pm, and have moved ste..[read more]
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Short Term Direction of Mortgage Rates Dependent Upon Auctions and Stocks
Mon, 08 Feb 2010 18:43:26 GMT
Posted To: Mortgage Rate WatchWho Dat!!!! Congratulations to New Orleans on a well played and exciting Super Bowl victory. Mortgage rate moved a few basis points lower on Friday following the Employment Situation Report . While we have seen scattered..[read more]
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MBS MORNING: Testing the Staying Power of Friday's FTQ Rally
Mon, 08 Feb 2010 16:38:00 GMT
Posted To: MBS CommentaryDID I MENTION THUNDER SNOW ! By the look of the charts, it doesnt appear that we should be expecting any noticeable improvements in positive price momentum today. We are extending the downtrend that began midday Friday. The F..[read more]
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MBA Takes Loss on Headquarters; CRA Loans; HAMP Servicer Updates; Prepay Speeds; Updates: GMAC, FAMC
Mon, 08 Feb 2010 15:11:52 GMT
Posted To: Pipeline PressI thought about taking today off from the commentary to celebrate, since yesterday I won all 4 quarters of my office's Super Bowl pool! And then I remembered that I was the only one in the pool, don't really have an o..[read more]
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MBS OPEN: Sideways Start. Searching for Guidance
Mon, 08 Feb 2010 13:56:00 GMT
Posted To: MBS CommentaryGood Morning. Congrats to the Saints. Here is a recap of my weekend.... We had a blizzard...32 inches of THUNDER SNOW . The driveway was defeated with snowblowers. This is only the first half of the driveway by the way.... Th..[read more]
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The Week Ahead: Treasury Auctions, Retail Sales, The Fed's Exit, Consumer Sentiment
Mon, 08 Feb 2010 13:49:00 GMT
Posted To: MND NewsWireThe week ahead is a particularly slow one. The only major releases are the Trade Balance on Wednesday and Retail Sales report on Thursday. Plus, Friday will see February’s first measure of consumer confidence. With little..[read more]
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MBS CLOSE: On The Doorstep Of A Brave "Old" World
Fri, 05 Feb 2010 22:16:00 GMT
Posted To: MBS CommentaryWhen something is on a doorstep--any doorstep--there are only two places it can be going: either back inside the metaphorical house, or back to the world outside. Bonds, as represented not by our namesake MBS, but by the 10yr..[read more]
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Home Sellers Still See Conditions as Unfavorable. Perspective on Shadow Inventory
Fri, 05 Feb 2010 21:49:00 GMT
Posted To: MND NewsWireA consumer survey conducted by Thomas Reuters and the University of Michigan indicates that it is sellers who are holding the housing market at low levels. In survey results released today, approximately 75 percent of homeowner..[read more]
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MBS AFTERNOON: Massive Stock Rally Leaves Bonds Slightly Weaker
Fri, 05 Feb 2010 20:40:00 GMT
Posted To: MBS CommentaryAfter reaching as high as 101-20, MBS 4.5's are back down to 101-14. Its seems that layers of support are building at levels that would leave 4.5's at PAR after settlement next week. Far be it from me to suggest there..[read more]
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Housing Policy: The Message is as Important as the Mechanism
Fri, 05 Feb 2010 19:37:00 GMT
Posted To: Voice of HousingThe nation’s capital is quickly shutting down, now that forecasters are calling for one to two feet of snow overnight. Local authorities warn residents to prepare to “shelter in place” for three days. Expe..[read more]
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How Did The Employment Report Affect Mortgage Rates?
Fri, 05 Feb 2010 19:21:34 GMT
Posted To: Mortgage Rate WatchMortgage rates improved a few basis points yesterday as panic set in on Wall Street. Headline news called attention to a developing crisis of confidence in the European Union where Greece, Spain, and Portugal all face ba..[read more]
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MBS LUNCH: Bonds Soaring As 10yr Flirts With 2009 Ranges
Fri, 05 Feb 2010 18:54:00 GMT
Posted To: MBS CommentaryEven by the time of our last commentary, it was no mystery that we got our bond-friendly eventuality today after the jobs report. That's nice, of course, but somewhere between 3.55 and 3.57, chart watchers will notice tha..[read more]
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MBS MORNING: Prepayment Speeds Slow in January. EU Deficits Now in Focus
Fri, 05 Feb 2010 16:45:00 GMT
Posted To: MBS CommentaryThe dust is starting to settle after the initial knee jerk reaction to the Employment Situation Report. Stocks are still dealing with yesterday's sovereign debt/jobs data/panic induced weakness. The S&P is currently -..[read more]
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FDIC Doing "A LOT" of Hiring; Less Loan Production in 2010; Neighborhood Watch Scorecard; California Tax Exempt Bonds; FY2011 Budget
Fri, 05 Feb 2010 14:56:57 GMT
Posted To: The Garrett Watts ReportWe mentioned recently that Google was sitting on $24.5 billion in cash. Apple has $40 billion in cash, and even after paying out huge dividends, Microsoft still has $37 billion in the green stuff. From a friend at t..[read more]
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More on Loan Buybacks; GMAC's Earnings; Another BofA lawsuit; Primer on Volatility; Solid Super Bowl Joke
Fri, 05 Feb 2010 14:36:41 GMT
Posted To: Pipeline PressA hole has been found in a nudist camp wall - the police are looking into it. There is also a hole in Harrisburg, Pennsylvania's budget, and the city is considering filing Chapter 9 bankruptcy . (The capital of PA, with a..[read more]
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MBS OPEN: 20,000 Jobs Lost in Jan. Unemployment Rate Falls to 9.7%
Fri, 05 Feb 2010 13:31:00 GMT
Posted To: MBS Commentary20,000 jobs were lost in January according to the Bureau of Labor Statistics. The unemployment rate fell from 10.0% to 9.7%. This will surely grab headlines... JAN NONFARM PAYROLLS -20,000 (CONSENSUS +5,000) VS DEC -150,000 (..[read more]
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The Day Ahead: Employment Situation, Unemployment Rate
Fri, 05 Feb 2010 13:14:00 GMT
Posted To: MND NewsWireEquity futures are deep in the red this morning after substantial losses yesterday. The culprit continues to be European sovereign debt concerns in Greece, Portugal and Spain, which is sending European and Asian stocks rapidly ..[read more]
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MBS CLOSE: Highs Of The Year All Afternoon
Thu, 04 Feb 2010 22:28:00 GMT
Posted To: MBS CommentaryGotta love Jan and Feb... Fans of rhetoric finally have a window to use the phrase "of the year" and get off the hook by citing its literal accuracy. Even if MBS are only at two month highs, MBS ARE STILL AT TWO MON..[read more]
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Lenders Improve Mortgage Rates as Stocks Panic. Locking Ahead of Employment Report
Thu, 04 Feb 2010 22:12:00 GMT
Posted To: Mortgage Rate WatchMortgage rates extended their streak of moving sideways near the most aggressive levels of the year yesterday. Although prices of mortgage backed securities were moderately weaker at the end of the day, lenders were not ..[read more]
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MBS AFTERNOON: Expecting Huge Revisions to Previous Jobs Data
Thu, 04 Feb 2010 20:45:00 GMT
Posted To: MBS CommentaryAs stock traders prepare to head home, with hat in hand and tail firmly stuck between legs, both benchmark Treasuries and "rate sheet influential" MBS coupons are trading near their most aggressive levels of the day..[read more]
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Fed MBS Program Update: 94% of Funding Used
Thu, 04 Feb 2010 20:06:00 GMT
Posted To: MND NewsWireThe Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending February 3, 2010, the Federal Reserve purchased a total of $17.63 billion agency MBS. In those five day..[read more]
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