Wealth of Women

Posted To:

Mortgages Rates reversed a recent trend of gradual improvement, moving higher today after a better-than-expected read on employment from this morning's Jobless Claims report as well as news that the ECB will swap out their Greek government bonds this weekend. 30yr Fixed Conventional Best-Execution Rates continue to operate in 3.875% territory on average, and the closing costs associated with those rates had been nearing the lower end of their historical range. While 3.875% Best-Execution remains intact today, the cost associated with obtaining them is higher on average. Additional reading: A previous post with more detailed discussion about Best-Execution calculations. This morning's Jobless Claims report showed 348k new claims this week versus an expectation of 365k. When data indicates that...()

Posted To:

MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-13 : -0-11 FNMA 4.0 105-10 : -0-08 FNMA 4.5 106-19 : -0-07 FNMA 5.0 108-00 : -0-05 GNMA 3.5 104-29 : -0-15 GNMA 4.0 107-23 : -0-12 GNMA 4.5 109-05 : -0-10 GNMA 5.0 110-27 : -0-10 FHLMC 3.5 103-03 : -0-12 FHLMC 4.0 104-29 : -0-07 FHLMC 4.5 106-05 : -0-06 FHLMC 5.0 107-20 : -0-07 Pricing as of 3:59 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 12:48PM : Greece's Weekend Debt Swap Today's Big News There has been a lot of "noise" this week concerning various aspects of the Greek bailout, including a motley influx of headlines about an hour ago. The only market mover of the group is the news that the ECB is airlifting itself off the sinking...()

Posted To:

Stronger than expected employment data, via weekly Jobless Claims printing 348k versus a 365k consensus, combined with a poorly received 30yr TIPS auction, Greek/ECB bond swap news, and possible positioning ahead of a 3-day weekend with significant news waiting on the other end, sent 10yr yields higher and MBS prices lower at their quickest pace of the week on Thursday. Volume was also as high as it's been since NFP day, edging out 2/9 just slightly. Bond Markets weakened at a leisurely pace in the morning when compared to the jolts from the bond swap news and TIPS Auction. MBS had settled into a range that it likely would have been content to hold barring those latter events--sitting on a supportive pivot at 103-18. But as it happened, the news that the ECB would swap out their Greek holdings...()

Posted To:

Bond markets are trying to find their footing this morning after yesterday's weakness extended through the overnight session. News that the ECB may go one step further than yesterday's bond-swap deal and actually allow Greek bonds to be written down in a similar fashion to the upcoming private sector haircuts prompted the move higher in yield this morning and lower in price . 10's approached 2.04 and Fannie 3.5 MBS 103-03 before bouncing a bit in recent moments. The markets's focus is clearly on Europe. This morning's Consumer Price Index data was a relative non-event, as expected, and is certainly not motivating any of the current price action. Volume is following European headlines and European trading. To wit, the first pop higher about an hour before the domestic open came on the announcement...()