MBS have continued to sell off from the mornings highs. Currently at 100-03 but a few moments ago touched 100-02. Stay on your toes as volatility remains. These levels are still up on the day, but we are currently down 6 ticks from the highs. Read More Now
Read more »11/3 ... Risk of Re pric
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Monday 11/3 ... At A Risky Level
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6.0's have fallen to 100-02 which is at the lows of the day. Depending on when your lender released rates, there is now a risk for a reprice for the worse, though some lenders will "wait and see" where this selling is heading. Read More Now
Read more »Interesting Graph (or boring) on changes in Mortgage Rates during election cycles
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keep in mind, I am not SUGGESTING ANYTHING WHATSOEVER in posting this. It's just because SO many people have either mentioned it in passing or asked about it.My personal opion is that the macroeconomic backdrop far outweighs any republican versus democrat considerations.
Read more »Friday 10/31 ... More Reprice Risk Materializing
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We're now entering a zone where lenders that priced in this AM's gains may consider a reprice for the worse. If you haven't gotten rates yet, don't worry, but if you did, and you got a majority of the nearly half point YSP improvement overnight, consider "riding the rips" and "selling the dips"In other words, short term deals may be seeing a good opportunity to lock. If you'r... ...CONTINUED - Read More Now
Read more »Friday 10/31 ... Some Selling
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6.0's are off their highs of 100-13 now down to 100-05 plus. Few, if any lenders will reprice on this owing to the fact that we closed at 99-26 last night.If you're lenders rates were over half a point better from last night, you might see a reprice. But massive reprices are unlikely unless we decline farther. Read More Now
Read more »Friday 10/31 .... A Halloween Story
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Don't want the story? Skip to the bottom...---------------There are urban legends about one of those cliche old "shut-in's." This particular old hag used to be beautiful and popular and successful once upon a time. But she's degenerated to such a state that this halloween, she doesn't even need to put on a costume to scare the children!No one knows her nam... ...CONTINUED - Read More Now
Read more »Thursday 10/30 ... Falling again
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Our 6.0s are holding up fine at 99-24, but the 5.5's just feel to the lowest level of the day.
More aggressive lenders may reprice for the worse. Read More Now
Read more »Thursday 10/30 ... Boring and Sideways
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We are seeing some slight positive momentum in 6.0's which are nearly even on the day and a couple ticks above key support level from mid October's bottom of 99-23. It appears that we are traveling with the stock lever. As stocks climb, we fall and vice versa.
Currently 6.0's are at 99-24. Read More Now
Read more »Wednesday 10/29 ... Still flirting with technical floor...
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Stocks are ticking up and exerting slight pressure on MBS, in addition to slightly wider spreads. 5.5's STILL holding the 97-21 level, with the current bid at 97-20.It would be very important for us to hold at or above these levels at the close.Stay tuned... Read More Now
Read more »Wednesday 10/29 ... The bottom's in...
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97-20 (ish) is your current bottom in MBS. We've bounced there 3 times in the last month, and again today, with certainty and conviction. MBS are currently back up to 97-24+. If you've gotten reprices for the worse already today, everyone is invited to the float club tonight. Barring catastrophe, technical and fundamental indicators point to a high liklihood that ... ...CONTINUED - Read More Now
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