-8 Reasons I’m Glad I’m American (LendingTree via FiscalFizzle) -Bair Expects FDIC Fund To Turn Positive In June (HousingWire) -PIMCO’s MBS Head Scott Simon On Housing Outlook (PIMCO) -Time To Be Bullish On Homebuilders? (TradingFloor.com) -Guide to SEC’s Securitization Reform Plan (MortgageOrb) -Corcoran On What Homebuyers Get For $400k (MSNBC) -US 10yr Treasury Yields Exploding [...]
Posts Tagged ‘10yr Note’
Still Floating Rates After Worse Home Price Data & Before Fed Press Conference
Yesterday’s early-week rate outlook said to hold on locking rates until just before tomorrow’s post-FOMC meeting press conference, and we’re sticking with that given today’s weak February home price data as well as stock and bond trading signals.
Rates stay low as bond rally continues into 3rd session
Stocks rebounded a bit today after deep losses yesterday after S&P issued a negative outlook on the U.S.’s ability to meet its debt obligations. Treasury Secretary Tim Geithner tried to steady the ship today, saying “There’s a lot of confidence in the capacity of this economy to grow, to make sure that we can meet [...]
Keeping rate warning despite today’s bond rally
A lot of economists are saying today’s S&P’s negative outlook for U.S. debt is ‘no big deal’ but markets are reacting otherwise. Stocks are down sharply (Dow -212, S&P 500 -21) and bonds are continuing Friday’s big rally (FNMA 30yr 4% coupon +31 basis points, 10yr Note +34 basis points).
Stocks Down & Rates Flat After Retail Sales, Treasury Auction
After a big bond rally yesterday that helped rates by about .125%, mortgage bond markets are flat today as decent March retail sales and a not-so-good $21b 10yr Treasury note auction are canceling each other out. Stocks are down slightly with S&P -2.5 and Dow -16.7. [UPDATE: Good rate news: FNMA 30yr 4% coupon rallies [...]
Rates rising as oil, gold, silver soar
Inflation is the theme driving rates higher this morning as mortgage bonds (FNMA 30yr 4% coupon) are down 22 basis points and the 10yr Note is down 31 basis points to yield 3.59. Average 30yr fixed mortgage rates (on loans to $417k) had been holding just below 5%, but if this selloff holds, it would [...]
How much is U.S. government’s monthly payment on its debt?
Monthly Payments on U.S. Debt Since early October, the 10-year US Treasury yield has gone up about 85 basis points (from 2.4% to 3.35%). The crisis in Europe and the Fed’s $600 billion bond-buying program (QE2) in theory would move rates lower. But a pick-up in world economic indicators, along with concern over a growing [...]
30yr rates 4.875%, condos higher. Rates up almost 1% since Oct. 8
Mortgage bonds are ‘only’ down 40 basis points after today’s ok 10yr Treasury auction results—it was actually worse and just rebounded a bit. Four ongoing mortgage bond market themes have caused a huge selloff in recent weeks: QE2 is focused on Treasuries and not mortgages, modestly improving economy, Chinese inflation, and profit taking after a [...]
More comments on why rates are rising
No one will argue that volatility has increased recently in the fixed income (and therefore MBS) markets, and that only a few folks out there (traders) are enjoying it. Loan agents (and their clients) who locked prior to yesterday are pleased, but concerned about closing their loan prior to lock expiration. Anyone hedging a pipeline [...]
Projected Range of 10yr Notes, What Manufacturing & Inflation Stats Tell Us
What Do Manufacturing & Inflation Stats Mean? Economic stats often point to different economic trends, depending on one’s viewpoint. What difference do numbers like Industrial Production, Capacity Utilization, Producer Price Index, etc., mean for anyone in the mortgage business? Aside from moving rates around, last week we saw strength in manufacturing production (pushing commodity prices [...]
