Author Archive

19
Sep

MBS RECAP: Positive Reprices as Bond Markets Breathe Sigh of Relief

Posted To: MBS Commentary Most of the conceptual analysis of today's action was already covered in the Mid-Day . There were no significant developments into the afternoon, but bond markets continued to rally in linear path. If there had been any argument to be made for connectivity between stock prices and bond yields, it went [...]

19
Sep

Mortgage Rates Recover Slightly

Posted To: Mortgage Rate Watch Mortgage rates moved slightly lower today after hitting the highest levels in more than 4 months yesterday. There were no significant economic events providing guidance today. This actually makes the strength more meaningful as the absence of big-ticket events left bond markets to their own devices. In that sense, the [...]

18
Sep

MBS RECAP: Bond Markets Fall Eerily Silent Following Fed Day

Posted To: MBS Commentary Today turned out to be spooky, or at least 'uninformative' from a market-watching standpoint. Here we have an active trading day following a hotly-anticipated FOMC day and trading levels barely budge. Historically, these "day after big FOMC Announcement" days can be some of the biggest movers. The fact that we didn't [...]

18
Sep

Mortgage Rates Edge Up to 4-Month Highs

Posted To: Mortgage Rate Watch Mortgage rates only moved slightly higher today for most lenders. Some lenders were unchanged from yesterday, but on average, rates inched up to match their highest levels since May 1st. There was no significant underlying market movement, which is interesting considering yesterday’s Fed Announcement was expected to do more to [...]

17
Sep

Mortgage Rates at 1.5 Month Highs After Fed

Posted To: Mortgage Rate Watch Mortgage rates moved higher at a moderate pace today after the Fed reiterated their intentions regarding the gradual tightening of monetary policy. That policy has been one of the key factors in historically low mortgage rates. While the Fed didn’t make any surprising moves, they did confirm some market fears. [...]

17
Sep

MBS RECAP: Stronger Start Followed by FOMC Sell-Off Leaves MBS Only Slightly Weaker

Posted To: MBS Commentary As far as Fed days go, this one was pretty tame. That's especially true if we consider the amount of hype and anxiety associated with this particular Fed day. The total gap between highs and lows in Fannie 3.5 MBS was just over a quarter of a point. That's the kind [...]

16
Sep

MBS RECAP: Strong Start, Weaker Finish, Still Waiting for FOMC

Posted To: MBS Commentary Bond markets had their ups and downs today, but ultimately, none of it really matters in the bigger picture. Whether we look at where trading levels have been over the past two weeks or where they could go after tomorrow's FOMC events, the movement of the past two days is exceptionally [...]

16
Sep

Housing Market Implications of Millennials Moving Out

Posted To: MND NewsWire As the U.S. economy improves and adds jobs, younger Americans-millennials-are slowly starting to move out from their parents’ basements , where a record number of them have been living for the past few years. They’re not buying homes as much as they are renting them, but how much and where is [...]

15
Sep

MBS RECAP: Technically Positive, but Might as well have been a Holiday

Posted To: MBS Commentary Japan was out for a holiday today and US markets might as well have been. Apart from the first few minutes of the domestic session, today was one of the calmest days in terms of volatility in recent memory. From 8:30am on, Fannie 3.5 MBS held a range of 101-18 to [...]

15
Sep

Mortgage Rates Hold Steady; Volatility Ahead

Posted To: Mortgage Rate Watch Mortgage rates managed to hold steady today, which matches the very best performance of any other day in September. In other words, rates have either been flat or higher every day for the past 11 days. As we discussed last week, this quick move to higher rates is based, to [...]