Author Archive

5
Mar

MBS RECAP: Bond Markets Generally Flat for Past 3 Days; NFP Tomorrow

Posted To: MBS Commentary Today's ECB press conference and QE details were indeed a hotly anticipated item, and they caused quite a stir for European bond markets (right where you'd expect). But unlike we might expect from recent correlation, Treasuries did very little to follow the European bond market rally. On that note, we can [...]

5
Mar

Single Fannie/Freddie Security Details Coming Soon – FHFA

Posted To: MND NewsWire In a speech on Thursday the director of the Federal Housing Finance Agency (FHFA) emphasized one of the three familiar goals of his agency’s 2015 scorecard for the conservatorship of Fannie Mae and Freddie Mac. Melvin L. Watts told an audience at the Goldman Sachs Housing Finance Conference that FHFA would [...]

4
Mar

The ‘Starbucks effect’: Higher home prices

The value of homes within a quarter-mile of a Starbucks rise faster than those that aren’t, according to real estate research group Zillow.

4
Mar

Mortgage Rates Pause Ahead of Big Events

Posted To: Mortgage Rate Watch Mortgage rates paused today after moving swiftly higher over the past two days. Markets reacted to two important pieces of data this morning, ADP Employment and the ISM Services Index. Both of these are regarded as relevant anecdotes for the even more important Nonfarm Payrolls data coming up at the [...]

4
Mar

MBS RECAP: Bonds Opt to Hold Ground After Morning Data Volatility

Posted To: MBS Commentary Yesterday afternoon's latest levels in 10yr yields were right around 2.13. This morning's pre-data highs (just before 7am) were also right around 2.13. And after the data imparted it's volatile spin on trading levels, yields topped out yet again right around 2.13. Long story short, bonds continue biding their time ahead [...]

3
Mar

MBS RECAP: Bonds Remain on the Ropes Ahead of Big-Ticket Events

Posted To: MBS Commentary Bonds sold off again today amid a total absence of economic data and meaningful headlines. Tradeflows were left in control and the biggest consideration continues to be the corporate bond market. After another massive deal came through today, 2015 has now overtaken 2014's pace as the biggest on record for corporate [...]

3
Mar

Mortgage Rates Remain Under Pressure; More Volatility Ahead

Posted To: Mortgage Rate Watch Mortgage rates moved convincingly higher for the second straight day, bringing them back near the highest levels of 2015. Rates are dictated primarily by bond market trading, and traders are currently in a defensive stance ahead of the week’s most significant events beginning tomorrow. “Defensive” in this context, means more [...]

3
Mar

Buffalo’s $1 homes aren’t as cheap as they seem

In Buffalo, New York, the city is selling vacant homes for a $1 to those who are willing to fix them up and live in them for a few years. But as many buyers soon find out, the cost to renovate these super cheap properties can quickly add up.

2
Mar

MBS RECAP: What is Actavis and How Did it Ruin Our Day?

Posted To: MBS Commentary Have you heard much about Actavis before today? Me neither, but that sure changed quickly! Actavis is a big pharmaceutical company that announced it would buy Allergan back in Nov for around $66 bln. As is sometimes the case with these big buyouts, the buying firm needs to raise cash for [...]

2
Mar

Mortgage Rates Back up to 3.875 Percent

Posted To: Mortgage Rate Watch Mortgage rates rose fairly sharply to begin the new month as a large corporate bond sale indirectly hurt the bonds that dictate mortgage rates. When a company (in today’s case, pharmaceutical giant Actavis) issues debt, it can hurt mortgage rates in two ways. First, and most basically, mortgages are ultimately [...]