|
||||||
|
MBS very volatile today due to all the reports. The New Home sales dropped 11.3% in November to 355K as opposed to the 438K that was expected, and while this helped MBS, the Treasury is now going to auction off $122B instead of the $118B that was expected, so this brought them back down. If [...] Currently up 22 bps for the morning session, we’re seeing a little bounce back from yesterday’s losses. It’s still early so, I wouldn’t expect mortgage rates to open lower today, however, today is JAM PACKED with reports, and that could sway MBS in several directions. Here’s what’s on the menu for today: Personal Consumption Expenditures [...] Source: HUD Important FHA notice for all mortgagees: Delayed Implementation Date for New Requirements in ML 2009-28 Enactment of ML 2009-28, Appraiser Independence, will be delayed until February 15, 2010. ML09-28 (originally planned for a January 1, 2010 implementation) has two parts: a) prohibition of mortgage brokers and commission-based lender staff from the appraisal process, [...] Sorry guys… Just like yesterday, MBS is taking a beating again this morning. We’re currently down 31 bps, and we’re awaiting the Existing Home Sales report in about 15 minutes. The GDP (Gross Domestic Product) came in at 2.2%, lower than the expected 2.8% estimate which caused MBS to rise a little, but we are still in [...] Currently down 47 bps on the morning. getting hammered under the 200 DMA (2nd level of support) due to the economic outlook of 2010. Rates are going to start higher than Friday’s mortgage rates so no point in locking in now since we’re at the lows, but be prepared to lock if the situation worsens. [...] Good afternoon, MBS is under the 50 day moving average (1st level of support) and down 22 bps. Rates will get bumped up a little bit this afternoon. Currently down around 12 bps, there are no economic reports coming out today. Yesterday was a decent day in terms of mortgage bonds, as we were in the green practically all day. Bernanke got voted in for a second term as Fed Chairman, and the Fed stated that they intended to keep rates low for [...] Good morning folks, Currently we up about 36 basis points (bps) as of this morning, as stocks are in negative territory and the Philadelphia Fed Index (an indicator of manufacturing sector trends) came in higher than expected. We’re bouncing back from some of the losses from the past week, but I wouldn’t expect MBS to [...] Currently up around 6 bp for the morning and hovering around the 100 Day Moving Average (DMA), the CPI (Consumer Price Index-average price of basket of goods spanning over 200 categories) came in at the estimated 0.4% as well as the Housing Starts (number of new monthly residential construction projects that are underway) which came [...] |
||||||
|
Copyright © 2012 Texas Mortgage Corner - All Rights Reserved |
||||||
