Today’s Auction results reiterated yesterdays bleak results. All this just days ahead of the end of the FED MBS Purchase Program. In the last 24 Hours we have witnessed Mortgage Rates increase over .25% with repricing for the worse still trickling in. If the Auctions are producing this type of...
The market has twenty trading sessions before the cessation of the MBS purchase program. Traders believe that mortgage rates should increase, most noticeably in the lower coupon, current production area. At this point, besides the Fed, traders are not seeing much buying outside of some hedge funds and...
They are going up!!!
http://www.marketwatch.com/story/bernanke-exit-timing-to-depend-on-data-2010-02-10-120120
The Fed could increase the interest paid on excess bank reserves to sop up “extra” cash out there, which may have more of an impact than raising the overnight Fed Funds rate. Not only...
The week started off with a BANG the FNMA 30 YR 4.5% MBS posted a 34bp gain. This week, there isn’t much data with which traders can play so expect mortgage rates to trade on emotion and momentum instead. This is good for rate shoppers when mortgage rates are falling, but if they start to rise;...
Mortgage Backed Securities (FNMA 4.5% 30YR) gave up little ground this week shedding only 9bp. Although you wouldn’t think that if you read all the “Increase in Mortgage Rate” Tweets, in reality Mortgage Rates ended the week where they started. To view real time rates check my Real Time Mortgage...
