Posted To: The price action in the 10yr is like a coiling cobra at the moment. A range beset by yesterday's 3.56 snd this AM's 3.515 has gradually narrowed into what must consequently be wherever it is the market wants

Posted To: Following a 98-0 vote in the Senate, the House of Representatives has overwhelmingly agreed to pass legislation extending the home buyer tax credit until April 30, 2009. Next the bill will head to the desk of President Obama

Posted To: The House of Representatives has voted to pass legislation extending the home buyer tax credit until April 30, 2009. Last night the Senate voted 98-0 to pass the legislation. Next the bill will head to President Obama to

Posted To: The 10yr TSY note continues to extend yesterday's range (wait and see mode. READ MBS OPEN )... Meanwhile...."rate sheet influential" MBS coupons continue to out-peform their benchmark big brothers. In a thinly traded market, the FN 4.0 is

Posted To: Mortgage rates once again slipped below 5 percent during the week ended November 5 according to data released today by Freddie Mac. Results from the weekly Primary Mortgage Market survey peg the average rate for the 30-year fixed-rate

Posted To: Homeowners who are facing foreclosure may soon be able to remain in their homes for up to a year under a 'Deed for Lease' program announced Thursday by Fannie Mae. Under the terms of the program qualifying homeowners

Posted To: The Federal Reserve released their statement on monetary policy and economic outlook yesterday. Although there were some changes to the text of the statement, markets got what they were expecting. The FOMC held the Fed funds rate at

Posted To: Lets do a quick recap of yield spreads... Debt issued by the US Government (Treasury bills, notes, and bonds) is considered to be the highest credit quality....also known as 'Risk Free'. These 'RISK FREE' securities (TSY bills, notes,

Posted To: The Department of Labor this morning released the Unemployment Insurance Weekly Claims report, also known as Jobless Claims. This data set tracks new filings for unemployment insurance benefits and the number of Americans who continue to receive state

Posted To: Yesterday was a special day. In the late afternoon I visited Costco, which some people feel simultaneously represents everything that is both bad and good about the retail channel. The change in time over the weekend had made

Posted To: Recap of Yesterday... ADP Employment Report: -203,000 jobs in October vs. revised for better -277,000 cuts in September. October read better than expected. Treasury Refunding Announcment: $81bn in TSY supply next week. $40bn 3yr notes, $25bn 10s, and

Posted To: The US Senate OK'd an extension of the first-time home-buyer tax credit that was to expire at the end of this month. If the house approves the Senate bill, the incentive would expire six months into 2010. In

Posted To: The Senate voted unanimously Wednesday night to extend the $8,000 tax credit for home buyers beyond its scheduled November 30, 2009 expiration date. The credit would be available until April 30, 2010. Under the new legislation the credit

Posted To: The MBS AFTERNOON commentary was fairly robust. And you also have the write up on the Fed Announcement to read, so we'll keep the words to a minimum and give you some charts to consider going into the

Posted To: Although this may not be necessary, I am going to over-analyze the FOMC statement and relate it to mortgage rates. Below is the FOMC Statement. I highlighted the adjustments and additions the FOMC made today.... Release Date: November

Posted To: Following the FOMC announcement, which was the quintessence of "as expected," volatility understandably ticked up. Stocks moved both higher and lower in an expanding range whereas fixed income mostly worsened in an expanding range. MBS capitalized on the

Posted To: The FOMC Statement has been released... reaffirms promise to keep rates exceptionally low for an extended period benchmark rate to remain in zero to 0.25 pct range conditions include low rates of resource use, subdued inflation trends, stable

Posted To: Craig, Looking at this in an historical context, in previous economic downturns when the labor market was a casualty, the FOMC did not raise the Fed Funds rate until at least six months after the labor market improved.

Posted To: Mortgage rates ticked higher yesterday as prices of mortgage backed securities were pressured lower by a selloff in the long end of the Treasury yield curve. To remind readers, as prices of MBS and Treasuries fall, their yields

Posted To: In other words, MBS are a trading a tick higher or lower than unchanged on the day. That's 100-16 on the 4.5. Tsy's meanwhile are languishing, with the 10yr down 11 ticks, pushing the yield up to 3.50.