Archive for November, 2009
Friday, November 27th, 2009
Posted To: MBS CommentarySo I have to be honest...I was unaware of the Dubai debt story until this morning. At 7:33pm on Wednesday November 25, this flashed across my news feed: I could have cared less about my news feed at 7:33pm on the evening before Thanksgiving. I had no ...
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Friday, November 27th, 2009
Posted To: Mortgage Rate WatchMortgage backed securities continued to rally on Wednesday, closing within a quarter point of all time highs. As is typical during holiday shortened work week's, most lenders did not pass along the improvements; however, the rates we saw on Wednesday were still near record lows. The ...
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Friday, November 27th, 2009
Posted To: MBS CommentaryAfter the initial spikier responses to this AM's "Dubai Drama" prices are settling into a fairly logical range with recent highs and lows lying within highs and lows from the last two days. Even then, it wouldn't much matter if that range were catastrophically broken given the ...
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Friday, November 27th, 2009
Posted To: Voice of HousingFannie Mae’s rise in delinquencies spells trouble for housing values and the economy overall. As unemployment rises and investor confidence continues to waver, we likely face an economic stall that will require further government intervention. That won’t be easy politically, given that the American people are ...
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Friday, November 27th, 2009
Posted To: MBS CommentaryThe FN 4.0 is +0-09 at 100-06 yielding 3.989% and the FN 4.5 is +0-03 at 102-13 yielding 4.206%. The secondary market current coupon is 3.989% . I thought about adding the FN 3.5 into the current coupon blend, but there isn't much of a market for ...
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Friday, November 27th, 2009
Posted To: The Green HomeI'm more cranky than usual and already regarding red and green as the world's worst pairing since Jon and Kate. It must be Christmas. That gets the bah humbug out of the way - if only for the moment - so here are the first of ...
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Wednesday, November 25th, 2009
Posted To: MBS CommentaryI was both happy and sad upon my nightly review of the most recent blog post. I like to read it even if I've written it, to assess what else might be needed on the day... I was sad to see there's not much left to discuss ...
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Wednesday, November 25th, 2009
Posted To: MBS CommentaryLast week the 10yr TSY note bounced around between 3.32% and 3.37%. Early on this week, that range was broken as 10yr note yields tested 3.42%. However, as positional support remained in tact, higher yields and lower prices drew out bargain buyers which quickly pushed yields back ...
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Wednesday, November 25th, 2009
Posted To: MBS CommentaryYIELDS High 2.835 pct Median 2.750 pct Low 2.650 pct PRICE/ACCEPTANCES Price 99.463748 Accepted at high 87.98 pct Bid-to-cover ratio 2.76 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 32,000,045,800 Total public bids tendered 88,265,357,800 Competitive bids accepted 31,976,388,000 Noncompetitive bids accepted 23,657,800 Fed add-ons 960,931,500 Primary Dealer ...
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Wednesday, November 25th, 2009
Posted To: Mortgage Rate WatchRates rallied yesterday following a strong 5 year note auction. This helped pave the way for higher MBS prices and lower mortgage rates. By day's end MBS were testing historic price highs and lenders were repricing for the better. To remind readers, as MBS prices move ...
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