Archive for January, 2010
Wednesday, January 27th, 2010
Posted To: Mortgage Rate WatchMortgage rates improved a few basis points yesterday. Lenders were somewhat subdued in passing along interest rate improvements though. This is a function of a few reasons. First, mortgage-backed securities prices have held to a tight range over the course of the week. The second reason ...
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Wednesday, January 27th, 2010
Posted To: MBS CommentaryAs AQ noted in the last commentary, sellers dominated after the FOMC statement. It's fairly plain to see that this was the significant event of the day in the chart below: The question is, will it be the significant event of the week? In other words, if ...
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Wednesday, January 27th, 2010
Posted To: Voice of HousingI think all of us would agree that the Housing Finance System in this country is broken. The ability for the once powerful secondary marketing vehicles to provide liquidity to the housing industry is at risk. Private securitization has been out of business for over two ...
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Wednesday, January 27th, 2010
Posted To: MBS CommentaryI love 4pm on Wall Street... Every time the closing bell rings, MG drops what he is doing and sprints across the room toward the kitchen. He actually took out a trash can and two chairs just now. All for his snack pack....and no I dont mean ...
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Wednesday, January 27th, 2010
Posted To: MBS CommentaryThe FOMC Statement has been released. Here is a recap FED REAFFIRMS PROMISE TO KEEP RATES EXCEPTIONALLY LOW FOR AN EXTENDED PERIOD FED REPEATS EXPECTATION THAT MORTGAGE BACKED SECURITIES, AGENCY DEBT PURCHASES TO BE EXECUTED BY END OF Q1 SWAP ARRANGEMENTS WITH CENTRAL BANK COUNTERPARTIES WILL CLOSE ...
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Wednesday, January 27th, 2010
Posted To: The Garrett Watts ReportFrom a client who’s a very senior officer at a community bank: “Examiners are hammering everyone about loans with ridiculous standards, i.e. if it is weak it is bad, if it is OK it is bad, if it is good we must be missing something ...
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Wednesday, January 27th, 2010
Posted To: MBS CommentaryAs of right this very moment, there has been no negative response to the recently released auction results. This places the brunt of the potential volatility today on the FOMC statement which comes at 2:15, but can vary by several minutes. As for the auction, the 2.80 ...
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Wednesday, January 27th, 2010
Posted To: MBS CommentaryWith weaker than expected data this AM from MBA Applications and New Home Sales, bonds have been able to extend yesterday's rally as we move closer to the noon hour. But as you might expect ahead of the $42 bln 5yr note auction and the FOMC statement ...
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Wednesday, January 27th, 2010
Posted To: MND NewsWireThe Census Bureau and the Department of Housing and Urban Development today released New Residential Home Sales survey data for December 2009. The survey is primarily based on a sample of houses selected from building permits. Since a “sale” is defined as a deposit taken or sales ...
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Wednesday, January 27th, 2010
Posted To: Pipeline PressI received an e-mail from a branch manager of a mid-sized brokerage. She said, A few years ago, during our branch meetings, agents would try to one-up each other with news from investors, who had the best rates, the fastest underwriting turn times, etc etc. Now, our ...
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