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Rate Improvement

rmarra — Thu, 17 May 2012 21:02:34 +0000

MBS prices are up +10/32
(FNMA 30-yr 3.5 at 104.22), about 11/32 above morning levels, and at the high
for the day. Favorable repricing took place. Concerns about Europe and weaker
than expected economic data pushed MBS prices up to record levels. As the possibility
that Greece will leave the EU has increased, investor concerns about other
troubled European countries has also grown, causing investors to shift to safer
assets. In addition, Fitch again downgraded the debt of Greece based on the
risk that it may leave the Euro Zone. In the US, the May Philly Fed index
declined to -5.8, well below the consensus of 10.0. April Leading Indicators
fell 0.1% from March, which was also below expectations. The Treasury will
auction $99 billion in 2-yr, 5-yr, and 7-yr securities next week. The Dow was
down 150 points. Tomorrow, no economic data will be released.

Daily Update

rmarra — Thu, 17 May 2012 14:37:58 +0000

MBS prices are down -1/32 (FNMA 30-yr 3.5 at 104.11), which is about 4/32 higher than yesterday at this time. Favorable repricing took place yesterday. Early investors may have pricedat higher levels. It has been a quiet morning. Weekly Jobless Claims came in at 370K, a little above the consensus of 365K. The Dow is up 25 points. Philly Fed and Leading Indicators will be released at 10:00 et.

Mortgage Spotlight – Importance of the Pre-Approval

rmarra — Tue, 17 Apr 2012 16:24:27 +0000

Please visit my mortgage spotlight – preapproval article

http://www.mtgspotlight.com/featured-articles/2012/4/17/acc-top-producer-series-the-importance-of-pre-approval-rich.html

Daily Mortgage Update

rmarra — Wed, 14 Mar 2012 18:24:32 +0000

MBS have continued to move lower following yesterday’s Fed announcement, due to increased concerns about inflation and reduced expectations for additional quantitative easing. This morning, Import Prices rose 0.4%, below the consensus of 0.6%. The Dow is up 25 points. No more economic data will be released today. The results from the 30-yr auction will come out around 1:00 et.

Daily Mortgage News

rmarra — Thu, 23 Feb 2012 21:14:53 +0000

Mortgage Backed Security prices are up +3/32(FNMA 30-yr 3.5 at 103.14), about 3/32 above morning levels. Favorable repricing took place. Very strong demand for the 7-yr Treasury auction helped MBS markets. The bid-to-cover was 3.11, and foreign investors purchased 42% of the total. Oil prices rose to $108 per barrel, the highest level in nine months. The Dow is up 50 points. Tomorrow, New Home Sales and Consumer Sentiment will be released at 10:00 et.

Daily Economic News

rmarra — Thu, 02 Feb 2012 16:03:43 +0000

Mortage Backed Secuties prices are up +3/32 which is about 7/32 higher than yesterday at this time. The 30-yr fixed FNMA required net yield (60 day) is now at 3.37%, from 3.38% yesterday. There was little reaction to today’s economic data. Weekly Jobless Claims fell to 367K, slightly below the consensus of 370K. Productivity came in at 0.7%, which was very close to expectations. The Dow is up 10 points. No more economic data will be released today.

Daily Mortgage News

rmarra — Tue, 31 Jan 2012 23:56:32 +0000

Mortgage Backed Security prices are up +6/32(FNMA 30-yr 3.5 at 103.28) above morning pricing around unchanged levels, and near the high for the day. Favorable repricing took place. Consumer Confidence fell to 61.1, below the consensus of 67.0. Chicago PMI also fell short of expectations. The Dow is down 20 points. Tomorrow, ADP Employment, Construction Spending, and ISM Manufacturing will be released.

Daily Mortgage news

rmarra — Thu, 19 Jan 2012 21:14:44 +0000

Mortgage Backed Securities (MBS) prices are down -9/32 (FNMA 30-yr 3.5 at 102.23) below 9:45 et pricing around -2/32, and near the low for the day. Unfavorable repricing took place. This week, investors have become less concerned about Europe and more optimistic about the US economic outlook, so US bond markets have moved lower. Today, Jobless Claims fell to the lowest level since April 2008. The Philly Fed index came in lower than expected. The Dow is up 50 points. Tomorrow, Existing Home Sales will be released at 10:00 et.

S&P Downgrading Euro Zone

rmarra — Fri, 13 Jan 2012 15:09:34 +0000

Reports that S&P is close to downgrading several European countries has lifted the Mortgage Backed Securities markets and hurt the stock market this morning. In the US, Consumer Sentiment jumped to 74.0, above the consensus of 71.0, and the highest level since May. December Import Prices declined 0.1% from November. The November Trade Deficit was larger than expected. The Dow is down 100 points. No more economic data will be released today.

Daily Economic Update

rmarra — Thu, 12 Jan 2012 16:36:54 +0000

Mortgage Backed Security prices are up +1/32 (FNMA 30-yr 3.5 at 102.31), which is about 5/32 higher than yesterday at this time. Favorable repricing took place yesterday. The 30-yr fixed FNMA required net yield (60 day) is now at 3.48%, the lowest level since October 4, from 3.52% yesterday. Early investors may have priced at higher levels.

Weaker than expected economic data was unable to provide much improvement for MBS markets this morning. December Retail Sales rose 0.1% from November, below the consensus of 0.4%. Retail Sales ex-autos fell 0.2%, the first monthly decline since May 2010. Weekly Jobless Claims rose to 399K, above the consensus of 375K. The four-week average increased to 382K. As expected, the European Central Bank (ECB) made no change in rates. The Dow is down 10 points. No more economic data will be released today. The results from the 30-yr Treasury auction will come out around 1:00 et.