Home Loans and Mortgages on Bad Credit by Mortgages MAX

Posted To: MBS Commentary
Fed says "so long, MBS!" For primarily this, and other reasons, MBS are pouting today Lenders scatter reprices for the worse throughout the day OUR WARNING "pouting" = cutting edge technical term for being in the red while treasuries are in the Green 4.5's are down 2 ticks on the day at 100-06 10yr Treasury Note Yield about 2.5bps lower to 3.835 Stocks tried 1174 again in S&P and failed (again… we're losing count…) I discussed a few technical levels last night. Specifically, that 100-16, 100-10, and 100-07 were good levels to keep an eye on. That call turned out pretty good today as those have been our noticeable turning points throughout the day. If you got some improved rates this AM, the 100-16 was a good lock signal for those locking before NFP. And then…(read more)
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Original post by Matthew Graham

Posted To: Mortgage Rate Watch
Early morning weakness in the bond market yesterday forced lenders to move mortgage rates slightly higher at the open. Several lenders did decide to delay the release of their rate sheets until interest rate volatility died down. Treasury yields and MBS prices then began to recover from their weakest levels which allowed lenders who released pricing early in the day to reprice for the better. Overall, mortgage rates were a few basis points higher yesterday. The economic data calendar was busy today…. First up was the Mortgage Bankers Association’s Weekly Mortgage Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for…(read more)
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Original post by Victor Burek

Posted To: MBS Commentary
The Federal Reserve's MBS Purchase Program comes to an end today. Mortgage market participants must now face the reality of a life without the supportive, flow balancing, volatility calming bid of the Federal Reserve. It's time to ensure everyone's knowledge base is adequately prepared to explain some of the factors that will be moving mortgage rates over the next few days, weeks, and months. Without going into servicing valuations and best execution options, mortgage rates are generally dependent upon the mortgage basis. The mortgage basis can be generally thought of as a guidance giver for mortgage rates. This requires a proper explanation of yield spreads…. Debt issued by the US Government (Treasury bills, notes, and bonds) is considered to be the highest credit quality……(read more)
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Original post by Adam Quinones