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October 14, 2014

October 10, 2014

  • Posted To: Mortgage Rate Watch

    Mortgage backed securities and treasuries opened in opposite directions this morning. MBS opened a few ticks worse than yesterday, while the benchmark 10 year treasury note opened at 2.30, down from yesterday’s close of 2.32. The early morning weakness with MBS resulted in lenders worsening rate sheets. The only economic data released this morning was Import/Export prices which gives...
  • 10:31am

    Posted To: MBS Commentary

    The only economic data reported this morning was Import/Export Prices, which gives investors a gauge on inflation. Import prices posted a better than expected drop of only -.5% compared to expectations of a -.7% decline. Export prices posted a worse than expected drop of -.2% vs -.01% expected. The results were close enough to consensus to trigger no response from the bond markets. MBS and...
  • Posted To: Pipeline Press

    This commentary is not about global warming or climate change, nor is it about golf (although plenty of mortgage bankers play) or how water use impacts property values - but in California they all intersect. Some states have seen huge amounts of rainfall in recent months, but the water situation in California is dire, and recently there was a story about a water board member and...
  • Posted To: MBS Commentary

    The past few days got me thinking. I've been reading some articles and even some analysis from respected sources that I feel has missed the mark on what matters to markets right now. After my call for NFP to be glossed over last week as another economic report that didn't matter and for FOMC Minutes this week to be a chance for the Fed to explain how dovish they actually were, I've...

October 9, 2014

  • Posted To: MBS Commentary

    Yesterday’s FOMC induced rally continued overnight and into the early morning. The benchmark 10 year treasury note fell to a low of 2.28 at the open, but was unable to move any lower. We did receive a couple economic reports this morning at 8:30 and 10:00am which were ignored by the markets. Jobless claims posted a 1k drop to 287k beating expectations of 294k while Wholesale Inventories...
  • Posted To: Mortgage Rate Watch

    The rally of the last 4 days continued this morning with the Fannie Mae 3.5 MBS opening up 7 ticks higher than yesterday’s close. The excitement was short lived as profit taking started and continued for the better part of the day causing many lenders to reprice for the worse. It is not unusual to see investors take profits after a rally, and can be quite healthy for the markets. We did...
  • Posted To: MND NewsWire

    Home equity lines of credit or HELOCs accounted for over 15 percent of all 2014 home loan originations through the end of August. RealtyTrac, which released its first U.S. Home Equity Line of Credit Trends Report on Thursday said that this is the highest market share for these loans since 2008. Lending for these loans increased nationwide by 20.8 percent for the 12 months ended in June 2014 compared to the 12...
  • 10:27am

    Posted To: MBS Commentary

    It's the same story for stocks and bonds right now. Yesterday's impressive rally was extended overnight in both cases, and is now pulling back as the domestic session progresses. It's really that simple . This big move at the edge of long-term ranges naturally opens the door for a small corrective consolidation. Some traders will be booking profits. Others will be making new bets that...

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