Wednesday, May 23, 2012

BofA Repurchases $330M from Freddie; Delinquencies Down, Sales Prices Up - What' s Going On? AIG Back in Subprime

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May 23, 2012 10:40AM

BofA Repurchases $330M from Freddie; Delinquencies Down, Sales Prices Up - What's Going On? AIG Back in Subprime

Here is an interesting note for debt market students: Germany is scheduled today to sell two-year bonds that won't make set interest payments . The move reflects the safe harbor of German debt while revealing trepidation about the euro zone. There is even talk of German bonds with negative yields. "In these uncertain times, people are more concerned about the return of capital rather than the return on capital," said one strategist at Lloyds Bank. (Our 2-yr. was auctioned off yesterday with a yield...

May 23, 2012 4:16PM

Freddie Mac: Data Starting to Paint Picture of 2012

Freddie Mac said that first quarter 2011 economic data that has begun to emerge from various sources are, even though some is preliminary, beginning to create an impression of what the year may hold. Data on economic growth indicates that the quarter had slower growth than the one that preceded it but was still up from three of the previous four quarters. The slower growth primarily reflected less inventory accumulation and a dip in residential construction. According to the corporation's Economic...


Micro News

4:13 PM:

Update on Late Selling Spike

4:02 PM:

More Selling At Stock Market Close. Additional Reprice Risk

3:51 PM:

Late-Day Stock Lever Hurting Bond Markets. Reprices Reported

1:38 PM:

MBS Steady In Narrow Range Following 5yr Auction, Threats on Horizon

10:49 AM:

Bunds, Euro, Fed-Buying, Stock Lever, All Friends Of Bond Markets This AM

10:18 AM:

ECON: US House Prices Increase Slightly - FHFA

10:12 AM:

New Home Sales Rose More Than Expected in April; Prices Higher

9:11 AM:

Why Germany Doesn't Want Eurobonds

Around the Web

Video News

Toll Brothers CEO on Housing Strength

U.S. Housing Moving in Right Direction, Zandi Says

Santelli Exchange: Treasury Notes Auction


Today's Comments

Chris Kopec

"We are in the Dark Ages of mortgage lending. Appraisals are alchemy, and the underwriting process is the Spanish Inquisition."

Matthew Graham

"Possible? Yes. That's the easy question. The tough question is the one concerning "probable." Harder to know, and I'm not sure anyone..."

John DeLeva

"The inherent risk of mortgage lending is a consideration that cannot be effectively managed using flat fee principles. Educated consumers matched up with..."

Today's Q&A

"Freddie HARP 2.0 refis"

"Can I negociate out of having an escrow account during a HARP Refi?"

"What is a high cost loan"