Friday, March 30, 2012

Despite Late Day Weakness, Mortgages Improve On The Week

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Mar 30, 2012 4:12PM

MBS RECAP: Calm, Positive Morning Gets Rolled Over By Snowball Selling

"Across all operations in the schedule listed below, the Desk plans to purchase approximately $44 billion and sell approximately $43 billion in Treasury securities over the month of April." There were some slight changes in the size of the buybacks..

Mar 30, 2012 3:20PM

Mortgage Rates Lower Overall This Week, But Higher Today

After improving yesterday, Mortgages Rates moved higher today , falling roughly in line with mid-week offerings depending on the lender . The weakness was abrupt, arriving late in the day, but was not scarcely enough to affect the current Best-Execution 30yr Fixed Conventional Rate of 4.0%. That means the weakness was seen in the form of slightly higher closing costs. Buydowns to 3.875% remain too steep to make sense for most borrowers, and would need to get closer to the buydown that currently exists...


Micro News

2:21 PM:

NY Fed Releases Next Month's Buying Schedule

2:09 PM:

You Will See Reprices For The Worse if You Have Not Already

1:43 PM:

Negative Reprice Risk Increases as MBS Hit New Lows

1:01 PM:

Don't Tune Out Just Yet.... Friday Afternoon Volatility

12:28 PM:

Slow and Steady Winning the Race for MBS. Friday Reprices?

10:00 AM:

ECON: Consumer Sentiment Stronger Than Expected

9:50 AM:

ECON: Chicago Purchasing Managers Index Weaker Than Expected

9:24 AM:

Apathy Monster Strikes! Bond Markets Slightly Better. Volume LOW

Around the Web

Video News

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Is Spain the New Greece?

Weather Creating False Consumer Confidence Data?


Today's Comments

Donald Scott

"Mostly lenders are worried about the saleability of the high LTV/CLTV loans. They are worried that they will be stuck with non-performing loans down the..."

Jason Harris

"I closed one last week with a $400K 1st, subordinated a $105,000 2nd lien and had an appraisal of $240K. (We require 2055 EXT for all Fannie's) Saved..."

catherinecoy

"Donald Scott, can you give us a few "for instance" regarding UWM's HARP overlays. Why in the world do lenders/investors need to gummy up..."

Today's Q&A

"Time of your Closing"

"Who Is Responsible for a Mortgage When a Spouse Dies Without a Will?"

"Can an inherited foreclosure impact a minor's credit?"