What’s up in Mortgage Today – 3.20.23
MBS down 9 bps to start the week. Treasuries hit their lowest yields since September right at the start of the European trading session as the UBS takeover of Credit Suisse was initially [...]
What’s up in Mortgage Today – 3.13.23
MBS are up 81 bps this morning. Though it's been bouncy around this range. After 2 days of early wins, I'm wondering if the Angry God that Hates Mortgage People went on vacation. [...]
What’s up in Mortgage Today – 3.10.23
Market wants to give us hope today. Up 52 bps early. Nonfarm Payrolls = 311 vs 225 f'cast, [504 prev] Wages = 0.2 vs 0.3 f'cast, [0.3 prev] up 4.6% YoY Unemployment Rate [...]
What’s up in Mortgage Today – 3.9.23
Thursday - March 9, 2023 MBS are up .14 on the morning. Bonds were sideways to slightly weaker overnight with markets locked in a classic Fed accommodation trade (stock prices and bond yields [...]
What’s up in Mortgage Today – 3.8.23
MBS are up 19. Winning back some of the Powell ground lost yesterday. Although the ADP data came out at 8:15am and bonds improved shortly thereafter, it was actually the simple tolling of [...]
What’s up in Mortgage Today – 3.7.23
UMBS 5.5 at + 3bps on the open. 10y is down 3 bps. The recent pattern in overnight trading has seen a flatter trajectory in Asia followed by a setting of the tone [...]
What’s up in Mortgage Today – 3.6.23
UMBS up 9 bps on the morning. Bonds were sideways to slightly stronger amid quiet trading in Asia. Things got more volatile in Europe, but mostly for EU bonds (dueling narratives from different [...]
Mortgage Market Week in Review – Week of 2/27/23
Monday - February 27, 2023 MBS up 13 bps early on the day. Durable goods orders fell 4.5% in January, according to the Census Bureau. Excluding transportation, durable goods orders rose 0.7%. Core [...]