| Real Estate News |
Looking At Longer Term Charts For Perspective
Wed, 17 Mar 2010 21:37:00 GMT
Posted To: MBS CommentaryWhen faced with a lock float decision with decent arguments for either course of action, I like to look at longer term charts to get a sense of where I'm at vs. where I was or could be. Doing so at the current time leaves..[read more]
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At The Highs Of The Day Heading Into Close
Wed, 17 Mar 2010 19:51:00 GMT
Posted To: MBS CommentaryToday is much flatter compared to yesterday But 4.5's are still up 5 ticks and we're at highs again near end of day 10yr tsy lower by around 1 bp to 3.64 No data on Friday, but tons to consider tomorrow Waiting for re..[read more]
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Mortgage Rates Move Lower. Most Aggressive Lender Pricing Seen in Weeks
Wed, 17 Mar 2010 19:24:12 GMT
Posted To: Mortgage Rate WatchMortgage rates rallied lower yesterday after the Federal Reserve reiterated they intend to keep the Fed Funds rate at at exceptionally low levels for an “extended period”. The Fed also held steady in their be..[read more]
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Current Coupon MBS Move Sideways at Resistance as Stocks Keep Rallying
Wed, 17 Mar 2010 16:48:00 GMT
Posted To: MBS CommentaryThe dollar is weaker, oil prices are higher, and stocks are rallying---STILL. The S&P is trading at a new "recovery rally" index high print. Rates traders are ignoring the stock lever---for now at least. Since t..[read more]
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Loan Demand at Stand Still. Are You Nervous About the Year Ahead?
Wed, 17 Mar 2010 14:56:00 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 12, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortg..[read more]
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Federal Home Loan Bank's Suit Against Nine Private Label MBS Dealers; Several Lender Updates; No Change from Fed
Wed, 17 Mar 2010 14:31:00 GMT
Posted To: Pipeline PressFather Murphy waited in line to have his car filled with gas just before a long holiday weekend. The attendant worked quickly, but there were many cars ahead of him. Finally, the attendant motioned him toward a vacant pump. &..[read more]
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Producer Level Inflation Muted in Feb. Gasoline Index a Drag on Prices
Wed, 17 Mar 2010 13:02:00 GMT
Posted To: MBS CommentaryGood Morning. Happy St. Patrick's Day. The BLS released the Producer Price Index at 830am. Producer prices fell 0.6% in February following a 1.4% rise in January. The core read, which strips out volatile food and energy c..[read more]
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The Day Ahead: Stocks Continue to Tick Higher Before PPI and Fed Speak
Wed, 17 Mar 2010 12:02:12 GMT
Posted To: MND NewsWireDespite yesterday’s news that housing starts fell nearly 6% in February (led by weakness in multi-family starts), stock markets managed to move upwards yesterday and this morning that upward trend continues. Sentiment was..[read more]
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MBS And Treasuries Stay Strong Through Close
Tue, 16 Mar 2010 21:36:00 GMT
Posted To: MBS CommentaryBond Bulls In Control All Day Long Fannie 4.5's rise 7 ticks to 101-03 10yr note yield finally meets resistance at 3.65 Stocks end at best levels since Q308 Stocks face major test tomorrow to hold these levels In case you..[read more]
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How Did the FOMC Meeting Affect Mortgage Rates?
Tue, 16 Mar 2010 21:05:57 GMT
Posted To: Mortgage Rate WatchAfter moving higher following a worse than anticipated read on Retail Sales last Friday, mortgage rates made modest improvements yesterday. Activity in the fixed income marketplace was pretty boring though. Mortgage back..[read more]
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Reprices for the Better Reported as MBS Hit Intraday Price Highs
Tue, 16 Mar 2010 19:57:00 GMT
Posted To: MBS Commentary4.5's up 8 ticks on the day to 101-04 10yr Tsy yield down just over 4bps to 3.65 S&P at 1159 (highest since sept. 2008, 9 pts higher than Friday) AQ brought you up to speed on FOMC statement, and the rest of the day h..[read more]
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What is Right About the Mortgage Industry?
Tue, 16 Mar 2010 19:47:12 GMT
Posted To: Community CommentaryI have probably drafted around 15 different articles for a Community Commentary since the beginning of the year, but chose not to post them because for the most part they were rants about the absurdity of RESPA, the idi..[read more]
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FOMC STATEMENT: Fed's MBS Purchase Program on Course to End as Planned, But....
Tue, 16 Mar 2010 18:15:00 GMT
Posted To: MBS CommentaryThe FOMC Statement has been released. First and foremost, there was no significant change in the verbiage regarding the end of the MBS Purchase Program. Here is how the statement reads: "To provide support to mortgage le..[read more]
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Raising Capital to Help Grow Your Mortgage Operation
Tue, 16 Mar 2010 17:21:36 GMT
Posted To: The Garrett Watts ReportWe’ve been writing a lot on the profits of high performing mortgage bankers in 2009. Last year looks to have been a great year for most mortgage bankers, especially for those who originated FHA loans and sold ..[read more]
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Reaction to Dodd Financial Reform Bill Depends on Perspective
Tue, 16 Mar 2010 16:09:00 GMT
Posted To: MND NewsWireRemember the tale of six blind men who were asked to describe an elephant so each grabbed hold of a piece of the beast. The man who took hold of the tail described the elephant as a rope, the one who touched the leg said it was..[read more]
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Addressing Analyst Concerns For "Material" MBS Corrections
Tue, 16 Mar 2010 15:16:00 GMT
Posted To: MBS CommentaryI've gotten quite a few emails from panicked pipeline managers and loan writers regarding Meredith Whitney's bearish feelings on the Fed's exit from the MBS market and the general health of housing. If you missed ..[read more]
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Dodd Releases Huge Financial Reform Package. MND Initial Recap
Tue, 16 Mar 2010 14:49:00 GMT
Posted To: MND NewsWireYesterday, just one day shy of the second anniversary of the Bear Stearns collapse, Senator Christopher J. Dodd (D-CT), chairman of the Senate Banking Committee, released his long awaited proposal to overhaul the nation's f..[read more]
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Fed Doves & Hawks Defined; More on USDA; ResCap & Goldman; Rent vs. Buy; Refinancing Government Debt
Tue, 16 Mar 2010 14:20:26 GMT
Posted To: Pipeline PressNot a day passes whereby an employee in a mortgage bank doesn't start a grease fire (which they claim is an accident) in the kitchen. In all seriousness, here's a worthwhile 45 seconds . In a story from the New York P..[read more]
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Housing Starts Fall 5.9 pct. Building Permits Decline 1.6 pct. Rates Reverse Course
Tue, 16 Mar 2010 12:48:00 GMT
Posted To: MBS CommentaryHousing Starts and Building Permits fell in February. Housing Starts moved 5.9% lower to 575,000 annualized units, almost erasing the 6.6% gain seen in January. While this was a poor print for housing starts, the market was e..[read more]
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The Day Ahead: Housing Starts, Building Permits, FOMC Statement
Tue, 16 Mar 2010 12:11:08 GMT
Posted To: MND NewsWireThe dollar is weaker and equities look to open higher as investors await the afternoon policy statement from the Federal Reserve Board. Two hours before the opening bell, Dow futures are up 16 points to 10,592 and S&P 500 f..[read more]
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Mortgage Rates Waiting on the Federal Reserve
Mon, 15 Mar 2010 22:24:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved higher early Friday morning following a better than expected read on Retail Sales. However, as the day progressed, benchmark Treasury yields did move lower, helping mortgage-backed securities prices ..[read more]
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MBS CLOSE: Flat Day Reiterates Focus On FOMC
Mon, 15 Mar 2010 21:33:00 GMT
Posted To: MBS CommentaryIn shocking twist of events, MBS end where they begin, with 4.5 at 100-29 "Huge" change in treasuries too with 10yr at 3.695 vs. 3.701 coming into the day (a whole 6 thousands) Stocks rally to close right at their b..[read more]
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Ranking the Largest Banks by Assets; Warehouse Lending; More on Mandatory vs. Best Efforts; Funding Costs Are Really Cheap
Mon, 15 Mar 2010 20:33:51 GMT
Posted To: The Garrett Watts ReportWith all the moving and shifting, here are the most recent numbers on the largest banks ranked by assets: A few others you know are: #12 U.S. Bancorp ($265 billion), #17 BB&T ($165 billion), #23 Fifth Third ($11..[read more]
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MBS AFTERNOON: Coasting To Uneventful Conclusion
Mon, 15 Mar 2010 20:10:00 GMT
Posted To: MBS CommentaryMBS 4.5's unchanged at 100-28 10yr Tsy at 3.703 Stocks Rallying BIG into their close with S&P at 1150, same as last week's ceiling Seems like the S&P rallying from 1143 to 1150 should be more important than it..[read more]
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Home Builder Confidence Falls. Foul Weather and Distressed Sales Cited as Reason
Mon, 15 Mar 2010 19:17:00 GMT
Posted To: MND NewsWireThe National Association of Home Builders released their monthly Housing Market Index today. Derived from a monthly survey that NAHB has been conducting for more than 20 years, the NAHB/Wells Fargo Housing Market Index gauges b..[read more]
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