Archive for March, 2010
Wednesday, March 31st, 2010
Posted To: MBS CommentaryFed says "so long, MBS!" For primarily this, and other reasons, MBS are pouting today Lenders scatter reprices for the worse throughout the day OUR WARNING "pouting" = cutting edge technical term for being in the red while treasuries are in the Green 4.5's are down 2 ...
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Wednesday, March 31st, 2010
Posted To: Mortgage Rate WatchEarly morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover ...
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Wednesday, March 31st, 2010
Posted To: MBS CommentaryThe Federal Reserve's MBS Purchase Program comes to an end today. Mortgage market participants must now face the reality of a life without the supportive, flow balancing, volatility calming bid of the Federal Reserve. It's time to ensure everyone's knowledge base is adequately prepared to explain some ...
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Wednesday, March 31st, 2010
Posted To: MND NewsWireThe U.S. Department of Housing and Urban Development (HUD) is releasing over $49 million to public housing agencies in 49 states plus Guam and Puerto Rico to increase job training for low-income residents. The funding, announced Tuesday by HUD Secretary Shaun Donovan , is part of the ...
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Wednesday, March 31st, 2010
Posted To: MBS CommentaryThe Fannie 4.5 MBS coupon has lost all positive progress that was picked up following a much weaker than forecast ADP print at 815am. The FN 4.5 is currently -0-01 at 100-08 yielding 4.477%...well off its intraday high of 100-16. The 3.625% coupon bearing 10 year TSY ...
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Wednesday, March 31st, 2010
Posted To: MND NewsWireFannie Mae's mortgage investment portfolio shrank for the second straight month in February while the most recent available data showed delinquencies in loans held by the nation's largest provider of home mortgages are continuing to rise at an almost inexorable rate. Fannie Mae's Monthly Summary for February ...
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Wednesday, March 31st, 2010
Posted To: Pipeline PressPeople, especially in Rhode Island, are wondering, " What is happening with that darned flood insurance? " Obviously private flood insurance is not impacted by what is happening . A few weeks ago, the House passed H.R. 4851 which extended the authority of the National Flood Insurance ...
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Wednesday, March 31st, 2010
Posted To: MBS CommentaryGood Morning. I took a day off from the MBS Commentary blog yesterday to revisit the events that have unfolded leading up to the last day of the Federal Reserve's Agency MBS Purchase Program....TODAY. We have lots to discuss but first we must check in on the ...
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Wednesday, March 31st, 2010
Posted To: MND NewsWireMarkets are flat to roughly lower as cautious investors await the results of the ADP private employment report and a key index of the services and manufacturing industries in the Midwest. Two hours before the opening bell, Dow futures are down 12 points to 10,842 and S&P ...
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Wednesday, March 31st, 2010
Posted To: MND NewsWireThe Mortgage Bankers Association today released its Weekly Mortgage Applications Survey for the week ending March 26, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer ...
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