Home Loans and Mortgages on Bad Credit by Mortgages MAX

Posted To: MBS Commentary
After more volatile morning movements, MBS have improved in a very narrow range into the afternoon with the 4.5 up 3 ticks from Friday's close to 101-19. Closing at this level would constitute an all time high. Tsy's meanwhile had been negative almost all morning, but as you can see in the chart below, 10yr yields broke through 3.215 and used that same level as support to make an assault on the lowest yields since May at 3.20. If yields find reason to drop below 3.2, there wouldn't be any informative resistance until May's low at 3.12. As such, we wouldn't expect to see a meaningful push lower in yields into the 3pm marking Stocks have continued to "play ball" with bond rallies with both the S&P and Dow slightly negative on the day. The S&P had gone as…(read more)
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Original post by Matthew Graham

These servicers have been slow to modify mortgages, the administration charges, despite Treasury Department efforts since February to provide financial incentives to participate in …
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Original post by Adam Quinones

Posted To: Mortgage Rate Watch
I hope everyone had a fantastic holiday weekend…now it’s back to work. Last week ended on a flat note with mortgage backed securities closing basically where they opened Friday morning. Bolume was extremely light but that was expected as the markets were only open for a half day. The data calendar is very light today with the only report being the Chicago PMI which is a survey of businesses conditions around the Chicago region. Readings above 50 indicate expansion while readings below 50 indicate contraction. Last month’s survey registered the first above 50 reading since the summer of 2008 with a reading of 54.2. Expectations called for this month’s report to come in slightly lower at 53.0. The release indicated that business conditions around the Chicagoland area continue…(read more)
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Original post by Victor Burek