Fri, Feb 13 - 4:24 PM ET Market Wrap: Our benchmark 4.5% FNMA bond struggled with a lower volume holiday trading day and lost 28bp to close at $100.62. Traders didn't have much to focus on other than to watch the progress of the 'Financial Stability Plan' in Congress. The $787 billion bill passed
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02/13/2009
Fri, Feb 13 - 12:00 PM ET JPMorgan halts new mortgage foreclosures. Will not out new mortgages into foreclosure for 3 weeks. Believes 3 weeks adequate for Treasury to announce a new mortgage modification plan. MBS trade back to flat and will close at 2:00pm ET. Stocks lower and will close normal
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02/13/2009
Current Trend Direction: Sideways Risks favor: Bias Towards Locking Current Price of FNMA 4.5% Bond: $100.75, -16bp Bond prices are trading lower so far today on this shortened holiday session that will see the Bond markets close at 2:00pm ET. On Monday, President's Day, both the Stock and Bo
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02/13/2009
Fri, Feb 13 - 10:11 AM ET Consumer Sentiment slightly lower at 56.2 vs exstimates of 60.2. MBS trading near session lows. Stocks near unchanged. 8:40 AM ET - Year-to-date the Fed purchases nearly $115B in MBS as reported yesterday. MBS flat, while Stock Futures slightly lower. Oil at $34.72/barre
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02/13/2009
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02/12/2009
Current Trend Direction: Sideways Risks favor: Locking Current Price of FNMA 4.5% Bond: $101.19, +9bp Retail Sales unexpectedly increased in January for the first time in 7 months coming in at 1.0% versus estimates of -0.8%. When stripping out auto sales, the number came in at 0.9%, also bea
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02/12/2009
Thu, Feb 12 - 5:00 PM ET Market Wrap: Our benchmark 4.5% FNMA bond was pushed up and down within a 41bp range on mixed economic, bond auction, and mortgage related news. The bond ended the wild session 19bp lower at $100.91. Retail Sales surprised to the upside snapping a six month losing string
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02/12/2009
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02/12/2009
December 15, 2008 MORTGAGEE LETTER 2008-40 TO: ALL APPROVED MORTGAGEES SUBJECT: Refinance Transactions: New Maximum Mortgage Calculation The Housing and Economic Recovery Act of 2008 revised the National Housing Act to: Eliminate the variable lo
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12/26/2008
Fri, Dec 19 - 10:35 AM ET President Bush announces a $13.4B loan to GM and Chrysler. Stocks higher after the news. MBS taking a breather after a sharp eun higher in recent weeks. 8:35 AM ET - MBS slightly lower this morning with no economic data due for release. Quadruple witching occurs in the e
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12/19/2008